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EBRD grants €80 mln financing for energy firms in Romania

Romania is set to receive €80 million (about $117.5 million) from the European Bank for Reconstruction and Development, and the EU to support the development of energy efficiency projects – according to local paper.

The financing is part of a more extensive loan worth €100 million, which will also benefit Bulgaria, Terry McCallion, senior banker at European Bank for Reconstruction and Development, told Ziarul Financiar. However, McCallion did not specify when exactly Romania would receive the loan, and added it largely depended on the local requests. EBRD will release the funding primarily to small, middle-sized, and large companies that operate in the industrial sector. The money will be released through three domestic banks, which the international financial institution has already signed agreements with. The first part of financing (worth €35 million) was released on Thursday by BCR €20 million, CEC €10 million and Banca Transilvania €5 million. The remaining €45 million will be distributed in the future through some Romanian commercial banks. (