ACBA-CREDIT AGRICOLE BANK launches low-interest 'saving loans' program for introduction of energy-efficient technologies

10.04.2015 16:55
ACBA-CREDIT AGRICOLE BANK launches low-interest 'saving loans' program for introduction of energy-efficient technologies

YEREVAN, April 10. / ARKA /. Speaking at a news conference today ACBA-CREDIT AGRICOLE BANK CEO Hakob Andreasyan said the Bank is launching a program designed to provide low-interest 'saving loans' for introduction of energy-efficient technologies.

He said the loans' repayable term is 8 years and the minimum amount is $30,000. He did not say what the maximum amount is.

Andreasyan explained that the program also provides for loans, 10% of which will be provided as grants.

"We expect this program to attract a great number of borrowers,' said Andreasyan.

The press conference followed a discussion on the introduction of energy-saving technologies with local business people, organized by ACBA-CREDIT AGRICOLE BANK.

Andreasyan said energy efficiency measures are getting popular not only with industrial enterprises but also financial and other organizations. According to him, they are beneficial not only in terms of environment, but also in terms of finance saving.

Andreasyan said before offering energy-efficient programs the Bank had introduced solar heaters in its branches, several schools and kindergartens, because 'we wanted to serve as an example and to demonstrate their effectiveness.'

According to Andreasyan, to implement this program the bank established cooperation with the European Fund for Southeast Europe (EFSE) and the European Bank for Reconstruction and Development, as well as with "EnergoCredit" fund.

ACBA was established in 1996 as part of EU’s TACIS program. As a result of a long-term and mutually beneficial cooperation between ACBA Bank and the French Credit Agricole the latter became the biggest shareholder of ACBA in 2006, September. ACBA was restructured, becoming a closed joint stock company and was renamed ACBA CREDIT AGRICOLE BANK.

According to the latest data, the bank’s assets in 2014 amounted to 286.4 billion drams; its liabilities were 237 billion drams and capital was 49.37 billion drams.  ($ 1 - 475.55 drams). -0-


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