The European Bank for Reconstruction and Development (EBRD) launched yesterday the ”Green Economy Financing Facility” program, aimed at increasing home energy efficiency in Romania.

The program, which is worth EUR 100 million, will help reduce utility costs.

"The program is designed to help the residential sector in Romania by financing investments in energy efficiency, renewable energy and water saving solutions. It is the first time when the EBRD funds energy efficiency investments in the residential sector in Romania,” according to the bank.

Loans can be accessed through the Romanian banks taking part in the program.

"The vast majority of the Romanian housing stock was built between 1960 and 1990 with a low thermal insulation. While the need to increase energy efficiency is imperative, access to financing for such investments remains limited," said Matteo Patrone, EBRD's regional director for Romania and Bulgaria.

Beneficiaries of these loans can be individuals, owners' associations or companies providing green products and services.

editor@romania-insider.com