Black Sea Trade and Development Bank extends loan for "green houses" in Romania

The Black Sea Trade and Development Bank (BSTDB) is providing a loan of up to EUR 10 mln to Garanti BBVA Consumer Finance to finance energy improvements and resource efficiency of residential buildings in Romania.

The three-year facility will be on-lent to Romanian homeowners to invest in upgrades to reduce the high energy and water consumption, install renewable energy generation, and improve their waste management. The financing will contribute to Romania's energy efficiency and national environmental goals.

In addition to the positive environmental impact, the Bank's financing will also generate incentives for the construction industry and increase employment in the country.

The new facility, building upon the successful cooperation between BSTDB and Garanti BBVA Consumer Finance, launched in 2017, will provide financing to approximately 1,500 Romanian households.

"Improving energy efficiency is one of our operational priorities in Romania", said Hasan Demirhan, BSTDB Vice President Banking.

"We want to improve energy and resource consumption in Romanian households and, for that, we offer new sources of financing. In addition, the improvements will also generate financial savings for our customers," stated Bogdan Dobre, General Manager, Garanti BBVA Consumer Finance.

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