In December 2012, OeEB signed a risk participation with a total value of EUR 12.5 million in connection with a long term KfW loan. This credit line shall be used to build and rehabilitate small and medium sized hydropower plants in Georgia.
|Project name||Bank of Georgia|
|Sector||Energy / Resource efficiency / Infrastructure|
|OeEB project volume||EUR 12.5 million|
|Project partner(s)||KfW, Bank of Georgia|
The objective of this credit line is to provide a cost-efficient, sustainable and environmentally friendly way of improving and stabilizing the electrical power supply in Georgia. Furthermore, the possibilities for Georgia to export electrical power will be heightened by the increase in the production of energy from renewable sources. The extension of manufacturing capacity using renewable energy reduces the amount of energy obtained from fossil fuels. Emissions of CO2 as well as other pollutants damaging to the environment and climate are therefore reduced.
In order to support the project developer, OeEB also provided Advisory Programmes funds for technical support activities.