Credit Agricole Bank received an energy efficiency award under IQ Energy program

Interim results of IQ Energy program in Ukraine: over UAH 1.2 billion was invested in energy modernization of housing, about 35 thousand households participated in the program. 

Credit Agricole Bank received a «Best Start in the Program» award for outstanding performance in selling green technologies and efforts in promoting green economy in Ukraine.  

On 14 November, in a ceremony in Kyiv, the European Bank for Reconstruction and Development (EBRD) and partners celebrated the achievements of the program and awarded the best performers supporting energy efficiency and renewable energy in Ukraine through IQ energy program.

The event was attended by representatives of IQ energy donors, local authorities, international institutions, diplomatic community as well as EBRD partner banks and local companies.

«A year ago, Credit Agricole Bank signed a commitment with the EBRD to issue 1 million euros of loans to improve the energy efficiency of housing for Ukrainian residents. Today we received the award for the «Best Start in the Program». Energy-efficient loans were in high demand among the clients of our bank. Compensation amounting to 255 thousands of euro under 525 projects on insulation of housing has already been paid within the framework of IQ energy program. It is very pleasant to see that so many of our clients are eager to make their homes energy-efficient, and therefore, economical and environmentally friendly. Participation in the IQ energy program was also important for us because Credit Agricole is a socially responsible and «green» bank», — Galyna Zhukova, Board Member in charge of Retail and Network in Credit Agricole Bank, comments.     

IQ energy program is designed to promote energy efficient investments. The program is run by the EBRD and supported by 15 million of euro in grant funding from the Eastern Europe Energy Efficiency and Environment Partnership (E5P), to which the European Union is the largest contributor, and where Ukraine is also one of the donors. A technical assistance grant for program implementation is provided in equal share by E5P and Swedish government.

According to Anders Lund, Head of the E5P Fund, the IQ energy program has reached a milestone of investing over UAH 1.2 billion. About 35,000 Ukrainian households took out loans from local commercial banks which participate in the program to invest in green technologies for their homes.

The program targets Ukraine’s residential sector, which is responsible for over a third of the country’s energy consumption. With over 10 million buildings, many of which were built in the Soviet era with poor energy performance, there is enormous potential to not only cut energy bills but make Ukrainian homes more comfortable at the same time.

About Credit Agricole:

PJSC «CREDIT AGRICOLE BANK» is a modern universal bank owned by the leading financial group in Europe – Credit Agricole Group (France). The Group is a major partner of the French economy and one of the largest banking groups in Europe. It is a leading retail bank in Europe, having the largest portfolio of assets under management, being first in the field of bank insurance and third – in project financing in Europe. Credit Agricole has been operating in the financial market of Ukraine since 1993 and renders the entire range of banking services to private individuals, including premium-clients, and business. The Bank pays special attention to cooperation with agricultural enterprises. Reliability and business reputation of Credit Agricole in Ukraine is confirmed by the highest possible FITCH ratings, leading positions in bank sustainability, bank deposit reliability and bank profitability rankings, as well as by 460 000 private and 26 000 corporate customers, including representatives of small and medium business, large Ukrainian companies and international corporations. 

Contacts:

Viktoriia Torianyk, Head of PR and corporate communications, Credit Agricole Bank

E-mail: Viktoriia.Torianyk@credit-agricole.ua