EBRD provides US$ 3 million financing to VTB Bank Georgia

15/07/2014

The European Bank for Reconstruction and Development (EBRD) is happy to announce that VTB Bank Georgia has joined EBRD’s Sustainable Energy Financing Facility (SEFF) program. VTB Georgia has signed a 3 million USD loan on 27th June 2014 to enter the SEFF credit line agreement with EBRD and is soon to launch its new banking product – Energocredit loans for its customers. VTB Georgia is planning to utilize Energocredit funds through business lending (corporate and SME clients) as well as a retail lending scheme.

The SEFF funds are accompanied in Georgia by a subsidy provided by the EU–Neighborhood Investment Facility (EU-NIF) and technical assistance financed by the Austrian Federal Ministry of Finance.

By using the Energocredit facility corporate and SME customers of VTB Bank Georgia will benefit from a 10% or 15% subsidy and free technical assistance from the Energocredit Consultant team, while Residential customers will get a 10% cash back for purchasing energy efficient products such as heating systems, windows, air conditioners or household appliances.