EDB to provide US $10 million to Alfa Bank (Belarus) for energy efficiency projects
Almaty, 28 November 2014. Today Eurasian Development Bank (EDB) and Alfa Bank signed an agreement to finance projects aimed at reducing energy consumption by enterprises and ensuring the efficient use of resources in Belarus. The agreement was signed by Dmitry Krasilnikov, Deputy Chairman of the Management Board at EDB, and Igor Katibnikov, Chairman of the Management Board at Alfa Bank.
In accordance with the agreement EDB will provide US $10 million for three years. Alfa Bank will provide sub-loans to its clients, which meet the criteria approved by EDB, to finance energy and resource efficiency projects.
“This is EDB’s first energy saving project in Belarus. We believe that, in addition to reducing energy consumption and improving the efficiency of use of energy and resources, the project will foster the development of the financial system because it proposes a new banking product,” says Dmitry Krasilnikov. “The project will also help to improve the environmental situation in the country because it will use environmentally safe sources of energy and thereby reduce greenhouse gas emissions.”
Finance is provided in the framework of EDB’s Programme for the Improvement of Energy Efficiency in the Member States by the Providing Targeted Loan Facilities to Financial Institutions. In accordance with the Bank’s strategy, energy efficiency programmes of its member states are among its investment priorities.
Additional Information
Alfa Bank (Belarus) was set up as a result of consolidation of two Belarusian banks and is part of the Alfa Group consortium, one of the largest financial and industrial groups in the CIS. Alfa Bank is a full-service bank and is one of the top ten Belarusian banks in terms of assets, credit portfolio, customer funds and capital. The Bank’s authorised capital is BYR 288,503.3 million. Read more at https://www.alfabank.by.
Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth and the expansion of mutual trade and other economic ties in its member states. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan. Read more at https://www.eabr.org.