ProCredit Bank Georgia becomes the EBRD’s partner financial institution in the Green Economy Financing Facility (GEFF)
The EBRD is providing a loan of up to €25 million to ProCredit Bank Georgia deepening its support for the green economy in the country. The funds will be disbursed in two tranches; the amount of the first tranche is €15 million. The funds will be used to finance green technology investments in the commercial as well as the residential sector, helping to reduce CO2 emissions and improve the overall quality of life.
“ProCredit Bank Georgia aims to promote economic development that is as environmentally sustainable as possible. We are looking forward to making our contribution towards a cleaner and healthier environment together with the EBRD” – Alex Matua, General Director of ProCredit Bank, Georgia
The EBRD financing comes under the GEFF, a framework that provides financing and advice to help businesses become more competitive and households to reduce their residential energy costs. The GEFF includes a free technical advisory package, co-financed by the BMF and the GCF.
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Catarina Bjorlin Hansen, EBRD Regional Director for Caucasus and Alex Matua, General Director of ProCredit Bank, Georgia