Romania get Energy Efficiency Funding Boost

THE EUROPEAN Bank for Reconstructions and Development (EBRD) is continuing to support private industrial companies in Romania with a new €10 million loan.

The loan is being provided to Raiffeisen Bank S.A. as part of EBRD’s drive to improve energy efficiency in Romanian businesses.

Extended under the EU/EBRD Energy Efficiency Financing Facility framework, the credit line will be used to finance energy efficiency investments by Romanian companies with long-term loans worth up to €2.5 million each. The project will enable the private industrial sector to maximise energy savings and improve their overall competitiveness.

The EBRD finance is being complemented by grant funding from the European Union to support a technical assistance programme and targeted incentive payments for sub-borrowers to promote sustainable energy investments.

Claudia Pendred, EBRD Director for Romania said: “Through this project the EBRD is continuing to promote energy efficiency in Romania.

“The loan to Raiffeisen Bank Romania will facilitate further the access to financing for the local industrial sector, helping private companies to reduce their energy consumption and thus improve their overall competitiveness.”

Steven van Groningen, CEO of Raiffeisen Bank Romania added: "As a major lender on the local market for both corporate and retail clients, we see there is room for improvement in the field of energy efficiency across industries and households. This facility from the EBRD will enhance our capacity to provide our clients with value-added service."

Picture by Kriskaer

Friday 28th January 2011

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