GEFF - Romania - UCBRO and UcFin loan

Location:

Romania

Project number:

49291

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

29 Nov 2017

Status:

Disbursing

PSD disclosed:

12 Oct 2017

Translated version of this PSD: Romanian

Project Description

Provision of a senior loan to UniCredit Bank SA and UniCredit Consumer Financing IFN SA in the amount of up to EUR 30 million under the Green Economy Finance Facility focusing on financing green investments in the residential sector in Romania. The financing would be used for onlending to eligible sub-borrowers for investments in energy and resource efficiency measures in the residential buildings.

Project Objectives

The proceeds of the loan would be used to extend loans for residential energy efficiency projects in line with the objectives of the Romania Green Economy Financing Facility.

Transition Impact

The loan is expected to contribute towards building a green economy by (i) demonstrating the effects of green economy investments to UniCredit Bank and UniCredit Consumer Financing and subborrowers, market expansion by increasing the availability and access to residential green economy finance and high-performance green technologies (ii) transferring skills and knowledge to UniCredit Bank and UniCredit Consumer Financing, sub-borrowers and intermediaries on residential green economy solutions.

Client Information

UNICREDIT CONSUMER FINANCING IFN SA

UniCredit Bank SA, a subsidiary of UniCredit SpA, was established in 2007. It offers universal banking services and is the fifth largest bank in Romania in terms of total assets, with a market share of 8 per cent as of 1Q 2017.

UniCredit Consumer Financing IFN SA was founded in 2008 as part of UniCredit Group in Romania, operates as a non-banking financial institution and is one of the market leaders in consumer finance in Romania.

EBRD Finance Summary

EUR 23,000,000.00

Total Project Cost

EUR 30,000,000.00

Environmental and Social Summary

Categorised FI. UniCredit Bank SA and UniCredit Consumer Financing would be required to comply with the EBRD's performance requirements 2, 4 and 9 and apply the environmental and social requirements to the sub-projects under the facility as well as submitting annual environmental and social reports to the EBRD.

Technical Cooperation

The Loan is expected to benefit from the Technical Assistance package implemented under the Facility.

Company Contact Information

Gabriel Carmen Tinta
Gabriel.Tinta@unicredit.ro

Business opportunities

For business opportunities or procurement, contact the client company.

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