EBRD grants EUR 10 mln credit line to BRD for energy efficiency projects

The European Bank for Reconstruction and Development (EBRD) has offered a EUR 10 million credit line to BRD Societe Generale to finance energy efficiency projects in Romania, the bank has announced. The loan is supplementing a similar EUR 10 million credit line offered by the EBRD to BRD in 2008. The loan will be used to finance energy efficiency investments undertaken by Romanian companies with long-term loans worth up to EUR 2.5 million each. The project will enable businesses to maximize energy savings, mitigate the impact of rising energy prices and to improve their overall competitiveness. The proceeds of the initial EBRD loan enabled BRD to finance 11 energy efficiency projects in Romania, which helped BRD clients to reduce their energy bills, cut emissions and raise their overall productivity. “This project is reinforcing the EBRD’s commitment to promote energy efficiency in the private industrial sector in Romania”, said Claudia Pendred, EBRD Director for Romania. Since the beginning of its operations in Romania the EBRD has committed over EUR 4.8 billion in various sectors of the country’s economy, which attracted additional investment of EUR 9 billion. editor@romania-insider.com