On 18 January 2017, the Luxembourg Minister of Finance, Pierre Gramegna, and Minister of Housing, Marc Hansen, signed a zero-interest climate loan agreement with several commercial banks. The climate loan agreement was signed yesterday between ministers Pierre Gramegna and Marc Hansen and the Banque et Caisse d'Épargne de l'État, BGL BNP Paribas, BIL, Fortuna Banque, ING Luxembourg and the Banque BCP. The signing of this agreement took place as part of the "Klimabank an nohalteg Wunnen" package which aims to promote sustainable construction and improved energy efficiency as well as the value of renewable energy. The agreement regulates zero-interest climate loans, limited to €50,000 in 15 years, which are guaranteed by the state. Together with the implementation of a single office for housing aid, the government is also offering a new tool for finance and simplified procedures required for upgrading the energy efficiency of a room. Minister of Finance, Pierre Gramegna, stated that: "This initiative proves that the financial sector plays a key role in the implementation of energy transition. I am overjoyed at the strong collaboration between the public and private sectors on this matter, which forms part of the government's sustainable development policy". The president of the Association of Banks and Bankers, Yves Maas, congratulated the government's attempts to fight climate change. Photo by MFIN. From left to right: Daniel Reuter, ING; Pierre Gramegna, Minister of Finance. Marc Hansen, Minister of Housing; Francoise Thoma, BCEE; Thierry Schuman, BGL BNP Paribas; Claude Krecké, BIL; Yves Maas, President of AAssociation of Banks and Bankers; Michel Birel, BCEE, Pascal Bony, BCP; Jerry Grbic, Fortuna Banque
