OREANDA-NEWS. June 23, 2011. Belgazprombank was recognized by the International Finance Corporation (IFC) as the Most Active GTFP Issuing Bank in Europe and Central Asia for Energy Efficiency. The recognition was awarded on May 25, 2011 at IFC’s Annual GTFP Bank Partners Meeting held in Istanbul.

Belgazprombank was among the first Belarusian banks to join the IFC GTFP Programme in 2009. Through IFC GTFP the Bank has structured transaction  in the total amount exceeding USD 55 mln, mainly those connected with energy efficiency. This is the first year that IFC has recognized Belgazprombank for its outstanding activity in the GTFP programme.

“Belgazprombank was among the first to start intensive work aiming at development of sustainable energy in Belarus. Considering particular importance of promoting energy efficient technologies in the economy the Bank offers financing for projects connected with the modernization of production facilities in view of reducing energy consumption and the introduction of energy-saving technologies, in particular using the best practices of international financial institutions, as well as the Programme of the European commission for international energy cooperation, - says Sergey V. Shaban, Deputy Chairman of Belgazprombank’s Board – “This award acknowledges Belgazprombank’s operational excellence and commitment to sustainable development of Belarusian economy and represents an important achievement for the Bank.

Launched in 2005, IFC’s Global Trade Finance Program helps to facilitate trade into and between emerging markets by providing risk mitigation on trade-related transactions with partner issuing banks such as Belgazprombank. Through the GTFP network, local financial institutions can establish working partnerships with a vast number of international and regional confirming banks in the program, thus broadening access to finance with enhanced tenors and competitive pricing terms.