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EBRD provides MTBank with $4m loan for energy projects in Belarus

MINSK, 26 November (BelTA) – The European Bank for Reconstruction and Development (EBRD) has allocated a $4 million loan to MTBank to finance energy-efficient projects, BelTA learnt from MTBank.

MTBank became the first Belarusian partner bank to take part in the pilot project of the EBRD “Belarus Sustainable Energy Finance Facility – BelSEFF”.

The funds provided by the EBRD will translate into great economic benefits for MTBank customers in the form of reduced energy consumption, lower carbon emission and a lesser environmental pollution,” the bank said. The funds are meant for small and medium-sized businesses that want to cut energy costs and those that use renewable energy technologies. The list of companies entitled to the loan is pretty big and includes companies involved in the manufacturing industry, services, retail and others sectors.

“Despite the global financial crisis, the new credit line will give Belarusian companies an access to foreign funds. It is also an important way to support the Belarusian private business in general, because it will help MTBank customers, small and medium-sized businesses, to reduce energy intensity, thus enhancing their competitiveness,” MTBank informed.

MTBank was registered by the National Bank of the Republic of Belarus on 14 March 1994. The controlling stake in the bank belongs to the International Automobile Holding Atlant-M (65.02%) and the investment fund Horizon Capital (33.95%).

The European Bank for Reconstruction and Development was founded by 61 countries and two intergovernmental institutions. The Bank promotes market economy and democracy in 30 countries, from Central Europe to Central Asia.