ACBA-CREDIT AGRICOLE BANK finances creation of ‘green’ energy infrastructure in Kasakh community

30.03.2018 17:52
ACBA-CREDIT AGRICOLE BANK finances creation of ‘green’ energy infrastructure in Kasakh community

YEREVAN, March 30. /ARKA/. The first energy efficiency program, implemented with the financial assistance of the ACBA-CREDIT AGRICOLE BANK, has been completed in the Kasakh community..

The Bank said in a press release that from now on all community-owned public buildings as well street lighting will be provided with electricity from the clean energy infrastructure. Solar heaters were installed and the system of the lighting of the main streets of the community was modernized through installment of LED bulbs, it said.

Thanks to the "green infrastructures", the Kasakh community will be saving 5 million drams annually.
Kasakh is the first community in Armenia that decided to create a communal infrastructure of clean energy and to solve the issue of electricity and hot water by using nature without damaging it.

As a result of using green energy, about 105 tons of toxic carbon dioxide will not be released into the environment every year.

ACBA-CREDIT AGRICOLE BANK provides financing for community energy efficiency programs exclusively in Armenian drams, without service fee, at the annual interest rate of 9% and maturity period of 5 years.

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. ($ 1 - 480.22 drams). -0-


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