OREANDA-NEWS. March 10, 2010. SEB and the KfW Bankengruppe have entered into a credit line agreement worth 10 million euros in support of investments aimed at energy efficiency, reported the press-centre of SEB.

The terms and conditions of the energy efficiency loans offered by SEB and KfW are similar to those of an ordinary investment loan. The maximum amount of a loan is 15.6 million kroons. The target group of the loan is private and public sector companies and local governments who require investments to make their operations more efficient.

Riho Unt, Acting Chairman of the SEB Management Board and Director of Retail Banking, says: “The experience of other European countries has shown us that finance institutions have a role to play in boosting energy efficiency. Clients become interested in and motivated to invest in energy-efficient sites, renovation and new efficient equipment by direct factors such as more affordable interest rates on loans. Energy is one of the most considerable fluctuating cost components in price rises, and has a major impact on how competitive companies can be. For local governments, too, it’s important that they make wise investments that are forward-looking and efficient. SEB has set itself the goal of being a socially responsible bank that takes environmental aspects into account in its loan issuing operations.”

Loans designed for energy efficiency are a continuation of the cooperation launched between SEB and KfW in 2007, which saw support for local government energy audits and larger-scale cost-benefit analyses in the energy field. Almost a third of all local governments in Estonia have been granted a range of support through SEB.

In order to apply for a discounted loan to finance energy-efficient investments, please contact your administrator, who will then carry out an ordinary creditworthiness analysis.

KfW Bankengruppe is the largest bank in Germany focussing on the promotion of the European and German economies. SEB and KfW have been working together within the framework of a variety of agreements since 2002.