BUSINESS

EBRD EUR 30 M financing for BRD to support energy efficiency investments

The European Bank for Reconstruction and Development (EBRD) is continuing to promote energy efficiency in Romania with a financing package of up to EUR 30 M for BRD Groupe Societe Generale to support sustainable energy investments by small and medium-sized enterprises (SME) and municipal sector companies, a press release informs. The EBRD financing will be used to support SMEs with loans of up to EUR 1 M for investments in projects such as commercial energy efficiency investments, stand-alone small scale renewable energy investments, buildings sector energy efficiency and renewable energy investments, as well as investment for eligible manufacturers, suppliers and installers of energy efficiency and renewable energy technology, equipment and materials. The Bank’s funds will also support, with loans of up to EUR 5 M, investments made by municipalities, municipally-owned companies and private companies providing municipal services thus enabling them to improve the energy performance of municipal infrastructure, including buildings. The financing package extended to BRD-Groupe Societe Generale includes an energy efficiency loan of up to EUR 20 M for on-lending to SMEs under the Romanian SME Sustainable Energy Financing Facility (RoSEFF) and a credit line of up to EUR 10 million under the EU/EBRD Municipal Finance Facility. These two frameworks are being implemented, with the support of grant financing from the European Union for technical assistance and the reimbursement grants for sub-borrowers.

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