IFC delivers in-depth training on renewable energy (RE) financing for Credins Bank

International Finance Corporation (IFC), a member of the World Bank Group, launched on 21 February the first in-depth training in the region on renewable energy financing for Credins Bank staff in Tirana which will last over the course of the following three days.
This will be the first in a series of similar specialized trainings specifically tailored for select local banks in the Western Balkans comprising the most important technical, financial and legal aspects of renewable energy projects. In turn, by strengthening local banks’ capacities especially in the area of project finance, IFC is intent to build a sustainable market involving renewable energy technologies, primarily small hydro power plants (SHHP).
Credins bank is among five biggest banks in Albania with stable assets and a wide range of banking products.  The bank operates in 16 cities in Albania, through 47 branches and agencies. One of the bank’s main strategic objectives is to expand its loan portfolio, particularly in the area of RE financing as Albania must meet a target of 38% regarding renewable energy share in the overall energy consumption by 2020.
“Our value-added is geared towards enhancing the internal capacity of our clients. Of course our idea is not to transform loan officers to engineers or lawyers.  However, good understanding of country specific legal, technical and financial opportunities and barriers will secure that banks will continue to work in the sector even after completion of our project, outsourcing some tasks only if and when it is needed.”, stated Nebojsa Arsenijevic, Balkan Renewable Energy Program Manager at IFC.
Realized in partnership with the Austrian Ministry of Finance, IFC’s Balkan Renewable Energy Program aims to facilitate robust rates of investment into renewable energy projects in the Western Balkans.  By working with government officials, local and international SHPP developers, and local finance institutions, the Program will remove existing barriers for investments and improve related regulatory frameworks. The Program aims to develop the market for renewable energy in the region as a means to green the economies, diversify the energy mix, and support the countries’ path towards the European Union.  

energjia.al, 22.02.2012