EBRD Boost Furniture Giant's Energy Efficiency Improvements

THE European Bank of Reconstruction and Development (EBRD) is providing a $12 million loan to Azerbaijan’s largest furniture manufacturer, Embawood, to finance in part, energy efficiency improvements.

The EBRD loan is complemented by €120,000 Technical Cooperation funds provided by the Early Transition Countries Initiative and the Regional Energy Efficiency Program for the Corporate Sector.

Embawood manufacture and sell home and office furniture, the largest in Azerbaijan, with three factories in Azerbaijan, two in Georgia, one in Ukraine and one in Uzbekistan. They are also represented across ten countries through a retail trade network of about 200 shops.

“We are especially glad to support our client’s effort to control the quality of its production and to make its facilities more energy efficient with our funds. This is a further demonstration of the company’s commitment to quality, good corporate governance and social responsibility,” said Paul-Henri Forestier, EBRD Director for Caucasus, Moldova and Belarus.

Picture of the Maiden Tower in Baku, Azerbaijan by Fuad2006 (Self-published work by Fuad2006) [CC-BY-SA-2.5], via Wikimedia Commons

Tuesday 14th May 2013

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