Annual Report 2010 - ProCredit Bank
Annual Report 2010 - ProCredit Bank
Annual Report 2010 - ProCredit Bank
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Special Feature 9<br />
of life, <strong>ProCredit</strong> <strong>Bank</strong> Serbia began to offer loans<br />
to promote energy efficiency back in 2007. These<br />
loans were intended for home improvement measures,<br />
such as installing double-glazed windows,<br />
insulation and more efficient heating and lighting<br />
systems. By the end of 2009, the bank had<br />
disbursed EUR 15 million using an IFC credit line;<br />
the repaid loan instalments were later disbursed<br />
again in a new loan cycle. The credit line was accompanied<br />
by a campaign to promote these loans<br />
and raise awareness about the importance and<br />
benefits of energy efficiency.<br />
At the end of 2008, a new credit line agreement<br />
was signed with KfW, also in the amount of EUR<br />
15 million, to be disbursed through <strong>ProCredit</strong><br />
Leasing. Analyses were conducted throughout<br />
2009 in order to develop and implement a range<br />
of sustainable leasing products for financing<br />
energy-efficient equipment and machinery that<br />
uses renewable energy technologies in the SME<br />
and agricultural production sectors. The analyses<br />
also included intensive market research aimed at<br />
establishing a base of potential suppliers of energy-efficient<br />
equipment. In addition to creating the<br />
relevant analysis forms and procedures, the bank<br />
conducted a series of staff trainings before the<br />
leasing products were launched at the beginning<br />
of <strong>2010</strong>. This was followed by a marketing campaign<br />
consisting of educational sessions, direct<br />
promotions and other events.<br />
At the same time, the bank’s successful track<br />
record in providing financing for energy efficiency<br />
measures led to an additional agreement for two<br />
new credit lines from KfW for a total amount of<br />
EUR 30 million, part of which came from EU funds.<br />
The credit lines are slated to be disbursed as energy<br />
efficiency loans to households and SMEs.<br />
The eligibility criteria for energy efficiency loans<br />
require a reduction of at least 20% in energy<br />
consumption or CO 2<br />
emissions. Improvements financed<br />
by <strong>ProCredit</strong> <strong>Bank</strong> contributed to overall<br />
energy savings of 9 million kWh, while CO 2<br />
emissions<br />
were reduced by 3200 tonnes by the end of<br />
<strong>2010</strong>. Along with increasing awareness about the<br />
importance of energy efficiency for sustainable<br />
growth and environmental protection, the bank<br />
demonstrated both its commitment to development<br />
projects and its responsible approach to doing<br />
business.
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