Belarus Sustainable Energy Finance Facility - BelSEFF

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Sub-projects signed under this framework The EBRD is considering a framework operation of US$ 50 million to foster sustainable energy investments in energy intensive Belarus. The framework will comprise credit lines to local banks for on-lending to industrial companies and small and medium-sized enterprises (SMEs) undertaking energy efficiency and renewable energy projects. The facility will be supported by a grant from the Czech ODA Trust Fund for technical assistance to participating financial institutions, sub-borrowers and local experts. The Project will demonstrate the benefits of energy conservation and promote the expansion of sustainable energy lending in the energy inefficient Belarus. The Framework will also demonstrate the effects of rational energy utilisation for improving industrial competitiveness of the industrial and SME sector during a time of rising energy costs. Additionally, the Project will transfer and build expertise, among participating banks (PBs), end users (sub-borrowers) and local experts, related to sustainable energy investments. New and existing PBs will build expertise in identifying energy efficiency investment opportunities, marketing such products, as well as assessing loan applications related to energy efficiency investments. Sub-borrowers will be trained to structure loan applications related to energy efficiency investments while local engineers will be trained to help both banks and sub-borrowers. The financial viability of energy efficiency and renewable energy investments is designed to spur participating banks and other market players to continue this lending type on a sustainable basis in the future with their own funds. Private Belarusian banks and subsidiaries of foreign banks operating on a commercial basis will be eligible to participate in the framework. First BelSEFF credit line will be provided to Minsk Transit Bank (MTB), a private Belarusian bank and a long standing client of EBRD. US$ 50 million. US$ 50 million. Categorised FI under 2008 Environmental and Social Policy. This project offers significant environmental opportunities as it will contribute to the reduction of greenhouse gases. All new Participating Banks (PBs) under the BelSEFF will be required to undergo standard FI E&S due diligence by the Bank. All PBs will be required to comply with the EBRD Performance Requirements 2 and 9, adhere to the EBRD's Environmental and Social Exclusion and Referral Lists and submit annual environmental and social reports to the Bank including reporting on sub-projects. Sub-borrowers financed through the facility will be required to comply with national environmental, health and safety and labour requirements and the agreed Eligibility Criteria. Independent TC-funded Project Consultant will be assisting PBs in project preparation. Technical cooperation (TC) will be funded by the Czech ODA Trust Fund. Consultants contracted by EBRD will provide implementation support to PBs, sub-borrowers and local experts, including: awareness campaign among industrial companies and SMEs, project pipeline development, energy audits at sub-borrowers, implementation support for sub-projects and eligibility verification. Svetlana Oser Principal Banker, EBRD Tel: +44 (0) 207 338 6816 Email: OserS@ebrd.com