Credit Agricole Bank reached ceiling under EBRD program
Credit Agricole Bank (Kyiv) reached the ceiling amount allocated for participation in the IQ Energy program, energy efficiency program, by the European Bank for Reconstruction and Development (EBRD).
It was reported by the bank.
"Due to reaching the ceiling amount allocated for participation in the IQ Energy program by the European Bank for Reconstruction and Development (EBRD), Credit Agricole Bank ceases issuing new loans under this program," the release states.
The bank notes that all the projects in the framework of the program where the loan agreements with Credit Agricole Bank were concluded prior to 14.08.2018 inclusive or paid with the credit cards issued by the bank will be considered according to the current rules.
The projects where the loan agreements are concluded after 14.08.2018 will not be supported by the program.
"The popularity of loans under the IQ energy program in our bank exceeded all expectations and was even greater than we had projected. To date, many clients of the bank have already registered in the program, and the total amount of their loans of is about 1 million euros," Galyna Zhukova, Board member of Credit Agricole Bank in charge of network, retail and digital, commented.
At the same time, Oksana Bulgakova, the Director of IQ Energy program, said the rest banks-parners of IQ Energy program, in particular, Raiffeisen Bank Aval, OTP Bank and UkrSibbank, continued participating in the program till they reached their ceilings.
In November 2017, Credit Agricole Bank signed an undertaking with the EBRD to issue loans in the amount of EUR 1 million for improving energy efficiency of Ukrainians’ houses.
Credit Agricole Bank has been working on financial market in Ukraine since 1993. French financial group, Credit Agricole Group owns the bank.
EBRD is the largest international financial investor to Ukraine.
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