EBRD grants EUR 10 mln credit line for Raiffeisen Bank to finance energy efficiency projects

The European Bank for Reconstruction and Development (EBRD) has granted a EUR 10 million loan to Raiffeisen Bank Romania to fuel energy efficiency projects for local companies. 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 EUR 2.5 million each. The project will enable the private industrial sector to maximise energy savings and to improve its overall competitiveness. “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,” said Claudia Pendred, EBRD Director for Romania. Since the beginning of its operations in Romania, the EBRD has committed over EUR 5 billion to various sectors of the country’s economy which attracted an additional EUR 9 billion of investments. editor@romania-insider.com