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2013-09-13 00:00:00
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The European Bank for Reconstruction and Development (EBRD) has stepped up its support for energy efficiency investments in Belarus, with its third loan agreement under a new financing facility that was launched in the country earlier this year.
The latest funding is a loan of €10 million to Bank BelVEB OJSC for on-lending to private companies investing in sustainable energy projects.
The loan comes within the framework of the €50 million Belarus Sustainable Energy Financing Facility (BelSEFF), which was launched in Minsk, in February 2013.
Funding under the five-year loan to BelVEB will be earmarked for investments to improve energy efficiency and promote greater use of renewable energy resources.
BelVEB was a strong candidate for lending under the new programme because of its strong presence across Belarus and its lively appetite for sustainable energy lending.
“We are very happy to be working together with BelVEB in our drive to help roll out energy efficiency investments across Belarus,” said Francis Delaey – Head of EBRD’s Resident Office in Belarus – at a signing ceremony today.
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