The EBRD is continuing to support private industrial companies in Romania in their drive to improve energy efficiency with a new €10 million loan to Raiffeisen Bank S.A. to finance sustainable energy projects undertaken by local businesses.
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 €2.5 million each. The project will enable the private industrial sector to maximise energy savings and to improve its overall competitiveness.
The EBRD finance will be complemented by grant funding from the European Union to support a technical assistance programme and targeted incentive payments for sub-borrowers to promote sustainable energy investments.
“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.
"As a major lender on the local market for both corporate and retail clients, we see there is room for improvement in the field of energy efficiency across industries and households. This facility from the EBRD will enhance our capacity to provide our clients with value-added service", said Steven van Groningen, CEO of Raiffeisen Bank Romania.
Since the beginning of its operations in Romania, the EBRD has committed over €5 billion to various sectors of the country’s economy which attracted an additional €9 billion of investments.
Raiffeisen Bank S.A. is a leading universal bank in Romania, offering a complete range of financial products and services for nearly two million customers in the corporate and private individual segments. Raiffeisen Bank International AG, which owns 99.5% of Raiffeisen Bank S.A., operates one of the largest banking networks in CEE, covering 17 markets across the region through subsidiary banks, leasing companies and a range of other financial service providers.
* The EU/EBRD Energy Efficiency Finance Facility is a grant-supported financing line for Romania from the European Commission and the European Bank for Reconstruction and Development. For more information and investment case studies please visit www.eeff.ro.