EBRD provides US$ 3 million financing to VTB Bank Georgia


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.