Armenia gets $10M for Energy Efficiency Projects

THE European Bank for Reconstruction and Development (EBRD) and HSBC Bank Armenia CJSC for a $10 million loan to be directed to the industrial and renewable energy sectors.

The funds will allow HSBC Armenia to support its borrowing clients in their energy efficiency and renewable energy investments.

These funds will be lent to companies willing to make capital investments in their equipment, machinery and other fixed assets aimed at achieving overall energy efficiency and reductions of over 20% in their energy consumption. The maximum tenor of the loans is five years.

This facility falls under the EBRD’s Caucasus Energy Efficiency Programme (CEEP), which has been developed to encourage firms to make better use of their country’s energy resources.

This initiative aims to help Armenia reduce the energy intensity of its economy and promote energy efficiency investments in various sectors, such as power and energy, industry, agriculture, municipal and environmental infrastructure, property and the residential sector.

Picture of Yerevan by Սէրուժ Ուրիշեան (Serouj Ourishian) reproduced under CCL.

Thursday 17th July 2014

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