BasisBank new Energocredit partner

03/06/2015

The European Bank for Reconstruction and Development (EBRD) is deepening its cooperation with Georgia’s BasisBank. Among others, EBRD granted BasisBank a line of credit of USD 6 million for energy efficiency investments under the Caucasus Energy Efficiency Programme, well-known in Georgia as “Energocredit”. As a new partner bank of Energocredit, BasisBank will enter and develop a new business segment by promoting and financing energy efficiency investments among local businesses and residential clients.

Energocredit offers a triple benefit to the customers of BasisBank:

  • 10 or 15 % cash back on investments in energy efficient equipment and refurbishment
  • tailor-made advice of international experts for energy saving possibilities
  • a loan package for investments in energy efficiency at best conditions

The EBRD loan to BasisBank will be supported by grant funding from the European Union Neighbourhood Investment Facility, the EBRD Shareholder Special Fund and the Austrian Federal Ministry of Finance.

BasisBank was established in 1993. It offers a broad range of traditional commercial banking services for its corporate and retail clients. www.basisbank.ge

The EBRD is the largest institutional investor in Georgia. Since the beginning of its operations there, the EBRD has invested approximately €2.6 billion in over 178 projects. The Bank focuses on supporting the private sector, investing in energy projects as well as in infrastructure, logistics, telecommunications and the financial sector to support cross-border economic activities.

Find more information on the cooperation in our press release: http://www.ebrd.com/news/2015/ebrd-and-georgias-basisbank-deepen-cooperation.html