Cessation of issuing new loans by Credit Agricole Bank in the framework of IQ Energy program after 14.08.2018

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.

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.

“In November 2017, Credit Agricole Bank signed an undertaking with the EBRD to issue loans in the amount of 1 million euros for improving energy efficiency of Ukrainians’ houses. 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. We appreciate the responsible attitude of Ukrainians towards the installation of energy saving equipment and modernization of their homes, and we hope to further expand the program and cooperate with donors which gave Ukraine such a great opportunity,” – Galyna Zhukova, Board member of Credit Agricole Bank in charge of network, retail and digital, comments.

“Credit Agricole Bank participated actively in the program, was able to promptly organize issuing loans for energy-saving projects, both through their outlets and through credit cards. It should be noted that on average clients of this bank have spent the largest amount on insulation of their housing on credit, about kUAH 60,” – Oksana Bulgakova, the Director of IQ Energy program, said. 

Let us recall that in order to receive compensation under the IQ Energy program it is necessary to purchase energy-efficient equipment on credit through a partner bank. Relevant projects may include insulation of walls, roofs and floors on the ground floors; installation of modern energy-efficient windows, gas and biomass boilers; modernization of heat supply systems; installation of solar thermal systems, and many other measures.

Within the framework of the program, compensation of 35% of the loan / investment amount used for energy efficient modernization is paid in EUR to a separate client's FX account with any type of loan from the partner bank. The client has the opportunity to withdraw cash in EUR prior to repaying the loan in UAH.

The IQ energy program was designed by the European Bank for Reconstruction and Development (EBRD) and is financed by the Eastern European Energy Efficiency and Environmental Partnership (E5P) with a major contribution made by the European Union, as well as Sweden and the Austrian Federal Ministry of Finance. The amount of compensation for housing insulation totals to mEUR 15. The program was designed to boost energy efficiency improvements in the Ukrainian residential sector. IQ energy helpline: 0-800-505-717.

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 ban 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 300 000 active private and 18 000 corporate customers, including international corporations, large Ukrainian companies and representatives of small and medium business. Credit Agricole Bank is a socially responsible bank that confirms its status by the large number of projects implemented under the Corporate Social Responsibility program «We Care!».   

Contacts:  

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

Phone: +38 044 581 07 45, e-mail: Viktoriia.Torianyk@credit-agricole.ua