Kapital Bank expands financing of energy efficiency projects

The country’s first bank Kapital Bank continues its activities in the areas of sustainable development and green financing. In this regard, the bank and Azerbaijan Energy Regulatory Agency (AERA) have signed a cooperation agreement on providing concessional loans funded by the Energy Efficiency Fund.

The document was signed by Samir Akhundov, Chairman of the Board of AERA, and Farid Hidayatzade, Deputy Chairman of the Board of Kapital Bank.

The parties reached an agreement on regulating relations related to the provision of concessional loans aimed at promoting energy efficiency measures. This includes the terms of such loans, procedures for their accounting, monitoring of their intended use, repayment mechanisms, as well as the reporting obligations of the authorized credit institution to the agency.

In his speech, Samir Akhundov emphasized the purpose of the project and highlighted the contribution of this agreement, signed with leading banks in the country. He also noted that the partnership with Kapital Bank has been ongoing since 2018, expressing confidence in the successful continuation of cooperation in this new area within the framework of the Fund’s activities.

Farid Hidayatzade stated that financing green projects is one of Kapital Bank’s priority areas. Within this framework, the bank provides green loans to entrepreneurs and supports projects such as solar panel installations and electric vehicle charging stations. He noted that the cooperation agreement signed with AERA will not only contribute to the expansion of concessional financing but also promote more efficient use of resources and support the development of a green economy.

Kapital Bank, the country's first bank, is part of PASHA Holding. Kapital Bank has the largest service network in Azerbaijan with 114 branches and 53 departments all over the country. For more detailed information about the bank’s products and services, please refer to https://kapitalbank.az website, 196 Call Centre or the bank’s various social network pages. Applications for a cash loan and a Birbank card can be submitted online.