European Bank for Reconstruction and Development, EBRD offered credit line for financing of energy saving projects to JSC Bank CenterCredit, BCC, reported Kazakhstan Today referring to BCC message published on Kazakh Stock Exchange web site.
“BCC attracted 5 year loan from EBRD in the amount of US$ 10 million for projects financing of clients that operates in the energy sector and related spheres. Credit was offered within Kazakhstan Sustainable Energy Finance Facility (KAZSEFF) new innovative credit line for project financing in the sphere of energy efficiency increasing and exploring of renewable energy sources,” message informs.
“BCC became the first Kazakh Bank-participant of this credit line that leads to the new level EBRD efforts in assistance of Kazakh Economy development and that is the main strategic direction in modernization and improvement of energy sector in the Republic. In particular, it will finance energy-saving projects of private companies,” press release informs.
It was also informed that the loan will consist of two components. They are the credit line in the amount of US$ 10 millions and also technical assistance of KAZSEFF fund in the sphere of credit line application, offering help to the companies in the sphere of energy loss causes detecting, offering of technical decisions in decreasing energy consumption and attractive for banking financing projects preparing.
“Today we observe meaningful access decrease of Kazakh Banks to International Markets of Capital. In this situation the fact of EBRD loan offering to Kazakh Bank CenterCredit approves positive attitudes of international partners to BCC as to stable finance institute with solid reputation and reasonable policy,” Vladislav Li, Chairman of BCC said.
