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March 31, 2023

EBRD grants loan of 206 mln lei for energy efficiency investments in Romanian residential sector

The European Bank for Reconstruction and Development (EBRD) continues the investments’ development of energy efficiency in Romania’s residential sector by granting a 206 million lei loan (the equivalent of 45 million euro) to UniCredit Bank, reads a press release sent to AGERPRES on Thursday.

According to the release, the funds’ beneficiaries of the new credit line can be individuals, household owners who wish to invest in improving the energy footprint of their houses.

“The projects eligible for funding could refer to the modernisation of heating systems, water, electricity, dwelling insulation or other measures that lead to the increase of the property’s energy efficiency degree. Technical assistance for this project is ensured through the grants of the Global Environment Facility and EBRD’s Shareholder Special Fund programmes,” the document further informs.

At the same time, TaiwanICDF – International Cooperation and Development Fund will contribute with 29 million lei (equivalent of 6.3 million euro), supplementary financing.

“We are very pleased with this partnership with UniCredit and we have confidence that through the new credit line we will be able to boost the bank’s client network. The appetite for accessing funds will certainly be a great one given that increasing the energy efficiency degree represents a priority for all of us, and the local residential sector needs all the support to achieve the desired energy standards,” Matteo Patrone, EBRD regional director for Romania and Bulgaria stated.

In his turn, Septimiu Postelnicu, coordinator of the UniCredit Retail Division said that this funding comes as further proof of the EBRD’s interest and support they have provided for energy efficiency investments in the Romanian residential sector in time.

In 2017, EBRD invested in Romania over 525 million euro in 26 projects, and by the end of this year it will exceed 8 billion euro invested in Romania, from the beginning of operations onwards.

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