Romania's Electrica takes EUR 36 mln loan from EBRD
Romania's electricity distribution company Electrica (BVB: EL) announced that it signed an agreement for a RON 180 mln (EUR 36 mln) five-year loan with the European Bank for Reconstruction and Development (EBRD).
"EBRD remains one of the strategic partners of Electrica Group, being with us since the listing," Electrica CEO Alexandru Chiriță said.
The money will be used to finance the support scheme set in place by the Government, the opportunities for business development, as well as the investment plans in the distribution network.
Electrica estimates to recover the cost of the support scheme (network losses incurred as a result of prices included in the transport tariffs lower than actual prices paid) by introducing it in the regulated tariffs over a five-year period.
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