ET EN RU
Business »
Spacer Housing »

2007

In February 2007, KredEx participated in organizing the Financial Conference of Äripäev as a partner.

In February and October 2007, social advertising campaigns were organized for the Energy Efficiency Consulting Centre with the message „How to save on heating costs?“ The purpose of the campaign was to increase the awareness of people about energy efficiency.

In March 2007, the statutes of KredEx were changed, where the previous Credit Committee was replaced with an Expanded Financial Committee. As a result the decision-making process is more efficient, with a maximum of two stages instead of previous three.

In May 2007, the Energy Efficiency Consulting Centre started to organize seminars on energy efficiency in different Estonian towns. The organization of seminars was continued in autumn 2007, and 7 seminars were held within a year, where 428 representatives of apartment buildings participated.

In July 2007, KredEx signed a declaration of common interests in a meeting on energy efficiency issues with development banks of other countries. According to the declaration its parties shall continue cooperation in development and offering of financial products connected with energy saving of dwelling houses, and increasing of awareness regarding energy saving. Also KfW Banken Gruppe from Germany, Hipoteku Banka from Latvia and Bank Gospadarstwa Krajowego from Poland joined in the declaration.

In July 2007 the Government of the Republic, as one of the first, acknowledged the readiness of KredEx to use the structural funds of the European Union in years 2007 - 2013. In years 2007 - 2013 allocations are planned to the foundation capital of KredEx to satisfy an increasing interest in guarantees of enterprise loans, providing among others also guarantee to start-up loans and provide subordinated equity loans to satisfy the needs of growing companies.

In October 2007, the updated strategy of KredEx for years 2007-2010 was approved. The strategy determines the main goals, activity directions and principles and predicted financial projections of KredEx.

In November 2007, the traditional survey of entrepreneur awareness was conducted, where it was analysed how well the services of KredEx are known among entrepreneurs, and what the general evaluation of its activity is. To sum up, the overall awareness has decreased, and due to that it is planned to pay significantly more attention to increasing of awareness in the following years. On the other hand, as a very positive fact, it was discovered that the evaluation to professionalism is very high and further improved compared to the previous evaluations.

In November 2007, results of a survey conducted by Political Survey Center Praxis regarding the influence of export guarantees and loan guarantees of KredEx were published. The survey revealed that the export guarantees and loan guarantees meet the purposes established in political documents and have helped to eliminate the market failure, i. e. have improved the access of companies to capital. According to the above survey among other things it appeared that the activity of KredEx is highly valued, and the companies that hade used the services of KredEx considered the communication quick and efficient.

In December 2007, full reconstruction of an apartment building at Paldiski 171 that was selected by competition under the title of "Make your apartment building more energy efficient", which had lasted almost for a year, ended. Altogether the apartment building was supported with more than 1 million kroons within the framework of BEEN (Baltic Energy Efficiency Network for Building Stock) project.

At the end of December 2007, according to the rules of state aid established by the European Commission, the right to offer short-term export guarantees on so-called countries fit for the market ended. Risks connected with export to countries of the European Union, but also other OECD countries with high income level (Australia, Canada, Iceland, Japan, New-Zealand, Norway, Switzerland, USA) are considered to be fit for the market.