The European Bank for Reconstruction and Development (EBRD) is extending its support for energy efficiency investments in Romania’s residential sector through a loan of up to RON 206 million (EUR 45 million equivalent) to UniCredit Bank Romania SA and UniCredit Consumer Financing IFN SA, a press release informs.
The funds will be on-lent to households seeking to invest in energy efficiency improvements (such as heating, water and electricity, as well as additional building enclosures such as walls, windows and roofs) for their homes, and expanding the availability of green solutions for the residential sector.
Technical assistance is provided through grants by the Global Environment Facility and the EBRD Shareholder Special Fund.
TaiwanICDF – International Cooperation and Development Fund will contribute up to RON 29 million (EUR 6.3 million equivalent) as concessional financing.
“We are pleased to join forces with UniCredit and are confident that we can leverage our partner’s extensive branch network and expertise in energy efficiency financing to reach households throughout Romania. In the residential sector, there is significant room for improvement and we are proud to offer the market this unique combination of financial and technical tools to achieve green goals,” Matteo Patrone, EBRD Regional Director for Romania and Bulgaria, said.
This is the second loan under the new EBRD Green Economy Financing Facility (GEFF). Launched earlier in 2017 with a total volume of up to EUR 100 million, it is designed to help Romanian households invest in energy efficiency measures and renewable energy. Loans are provided via local partner financial institutions.
In 2017, the EBRD has invested over EUR 525 million in 26 projects in Romania and will reach almost EUR 8 billion in cumulative investments in the country by the end of the year.