Armenia: EBRD extends second energy efficiency loan

8/02/20160 comentarii

The European Bank for Reconstruction and Development (EBRD) is extending a second energy efficiency loan through its Energocredit facility to SEF International, a VisionFund microfinance institution in Armenia.

SEF International will receive a local currency loan worth US$ 1 million for on-lending to rural customers for energy efficiency investments.

The sub-loans, which are expected to become available from August 2016 onwards, will primarily support investments in energy and cost-efficient heating, cooling, ventilation systems and small business equipment.

As SEF International mainly targets small borrowers, loans are expected to be in the range of US$ 300 to US$ 600, with a 10 per cent grant element for eligible projects provided by the EBRD Shareholder Special Fund.

The EBRD extended the first US$ 1 million facility to SEF International in 2014. The funds were allocated to more than 1,600 customers, mostly from rural regions of Armenia, with an average loan size of US$ 500 equivalent.

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