On 3 September 2012, OeEB signed a long-term credit line in a total of EUR 20 million for investments in energy-efficiency and projects of small and medium-sized enterprise (SME) in Russia.
In 2009 Russia was a major energy user of the world because of the energy-intensive economy. The potential to save energy is enormous in Russia and high enough to cover the current energy demand of France. Because of the low energy prices the appeal for an efficient handling of energy has been marginal so far.
The credit line of OeEB is supposed to finance investments in energy-efficiency as well as financing small and medium-sized enterprise. Target of the credit line is to increase the competitive ability of local SME and consequently increase the competitiveness of the private sector as well as reduce energy consumption and the CO2 emission.
Center-invest is one of the most important and firmest banking institution in the region. Especially in financing projects of small and medium-sized enterprise. The bank already has experience in financing energy-efficiency-projects since 2005.