The European Bank for Reconstruction and Development (EBRD) granted a EUR 15 million loan to Romania’s Banca Transilvania to support financing for local small and medium-sized enterprises (SMEs) which are investing in energy efficiency and small-scale renewable-energy projects of up to EUR 1 million, according to Romania-Insider.com.The loan comes under the EBRD’s Romania SME Sustainable Energy Financing Facility (RoSEFF), a financing program aimed at helping local SMEs cut their energy bills and become more competitive. Except this loan, EBRD has granted a total of EUR 60 million to Romanian banks participating in the programme.
“As the economy is gradually recovering, this is a good time for Romanian SMEs to focus on how to become more competitive, cut energy consumption and reduce costs. We are very pleased to expand our engagement in energy efficiency with another loan to Banca Transilvania. We are impressed with the response to the first loan and are confident that the bank has a strong pipeline for further successful energy efficiency investments by SMEs,” said EBRD’s First Vice President Philip Bennett.
The EBRD granted another similar loan of EUR 10 million to Banca Transilvania, in 2012, which has already been used. It enabled 34 Romanian SMEs to invest in improved energy efficiency and to reduce carbon emissions.
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