ProCredit bank Belgrade to start to approve credits for projects for improvement of energy efficiency

The International Financial Corporation (IFC) today (November 20, 2006) approved a credit of €15 mn to ProCredit Bank Belgrade, which will be intended for the approval of loans to SME and physical persons for the improvement of the energy efficiency.

The contract on the credit was signed by the Head of the Executive Board of ProCredit Bank, Doerte Veidig and the Manager of IFC for global financial markets, Jirki Koskelo.

Veidig explained that ProCredit Bank would use IFC's means to approve loans for the improvement of apartment and business building insulation, use of alternative sources of energy and improvement of the insulation capability of doors and windows on buildings.

One of the guests at the celebration occasioned by the signing of the aforementioned contract was the Manager of the Republic Energy Efficiency Agency Nenad Pavlović.