foir print

14.11.2006

Center-invest Bank shared its experience in the sphere of energy-efficiency financing with the countries of CIS

On November 13 and 14 forum “Energy-efficiency financing at municipal level in CIS” took place in Moscow. The forum was organized by the Alliance to Save Energy (ASE), Renewable Energy and Energy Efficiency Partnership (REEEP) and by the United States Agency for International Development (USAID).

During the forum the Chairman of the Board of Directors of Center-invest Bank, professor Vasily V.Vysokov, doctor in economics, made a report that was entitled “Municipal energy-efficiency projects lending by regional banks: Russian example”, and which described Center-invest Bank’s activities in this sphere:

    - Center-invest Bank is a partner of International Finance Corporation (IFC) in realization in the South of Russia the IFC program for investments stimulation into energy-efficiency. Center-invest Bank is the first bank in Russia to participate in this very program. Loans that are granted within the frames of given program allow our customers decreasing power inputs by 40-70%. Center-invest Bank possesses own experience of lending for energy-saving projects: for installation of tracking devices in Associations of Dwelling Owners, energy-saving equipment in houses and flats of the population, replacement of boiler and pumping equipment of the enterprises of the South of Russia.

What experience in the sphere of energy-efficiency is used in CIS countries?

    - Ukrainian experience is of great interest. Tariffs in Ukraine have grown 2-3 times this year, hastily they are looking for the ways to thermo-renovate buildings, and there are attempts to create revolving funds for energy-efficiency. All the countries of CIS are trying to solve the problem of tariff regulation of investments via performance contracts that ensure return of the funds due to energy resources economy. Another thing that is useful for the South of Russia is Energy Service Companies’ (ESCOS) experience concerning health protection and education establishments. ESCOS activities in public sphere and establishments allow decreasing energy consumption by 30%. In Don and Kuban regions budget expenses on these purposes exceeded RUR 1 billion”.

Center-invest Bank experience in the sphere of project lending for energy-efficiency is very important for the economy of the region as it will allow enterprises and population to decrease expenses on energy resources, and it will result in wealth growth.