CEEP - Demirbank Azerbaijan

Location:

Azerbaijan

Project number:

45856

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

09 Jul 2014

Status:

Disbursing

PSD disclosed:

21 May 2014

Translated version of this PSD: Azerbaijani

Project Description

An energy efficiency loan to finance sub-loans to eligible corporates and individuals for business and residential energy efficiency investments. The project will strengthen Demirbank’s customer base and will allow the bank to continue to compete successfully in the local banking sector by providing new products and offering medium and long-term financing to its customers.

Transition Impact

The loan will generate transition impact by demonstrating the benefits of energy conservation and promoting the early adoption of sustainable energy financing. The transaction will contribute to the introduction of a new energy efficiency financing product to the local market and will support investments in the residential, industrial and commercial sector.

The Client

Open Joint Stock Company Demirbank, a private commercial bank in Azerbaijan, majority-owned by private individuals.

EBRD Finance

The loan will be provided under the EBRD Caucasus Energy Efficiency Programme.

Project Cost

USD 5 million.

Environmental Impact

Categorised FI. Demirbank is an existing client of the Bank and has attended an environmental and social risk management training workshop organised by the Bank in 2010. Demirbank implements environmental and social procedures and is compliant with the Environmental and Social Exclusion List. Demirbank will need to ensure continuous compliance with the PRs2 and 9 and provide ongoing E&S training to all new staff, especially in regional branches, to ensure consistency of the environmental and social due diligence and monitoring process throughout the entire portfolio.

Technical Cooperation

The energy efficiency loan will benefit from TC and incentives to end-borrowers available under the CEEP framework provided by the Austrian Ministry of Finance and EU Neighbourhood Investment Facility.

Company Contact

Aytan Gulusoy, Director International Relations Department

Tel: +994 (12) 444 71 23

 

Business opportunities

For business opportunities or procurement, contact the client company.

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Email: procurement@ebrd.com

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