EBRD grants €10m loan to Bank BelVEB under new energy finance facility

        Bank BelVEB and the European Bank for Reconstruction and Development (EBRD) signed an agreement on the €10 million credit line for a period of five years under the Belarus Sustainable Energy Finance Facility (BelSEFF). The loan will be on-lent to industrial companies and small and medium-sized enterprises (SMEs) undertaking energy efficiency and renewable energy projects as part of the BelSEFF. Under the agreement Bank BelVEB will provide implementation support to sub-borrowers including: project pipeline development, energy audits, implementation support for sub-projects and eligibility verification. 
        In addition to EBRD funding, companies will be able to benefit from free technical support funded by the Czech Republic, which will help them choose and carry out their energy efficiency projects. “The new agreement with the EBRD will enable Bank BelVEB to learn from the best practices of financing the projects in the energy sector, to continue to assist the development of small and medium-sized enterprises, and to promote the use of energy-saving technologies and equipment in the country,” Bank BelVEB noted.