Romania's UniCredit Tiriac Bank gets EBRD funds for energy efficiency, renewables projects

Romania's UniCredit Tiriac Bank is getting 10 million euro ($13 million) from the European Bank for Reconstruction and Development (EBRD) for on-lending to small and medium-sized enterprises (SMEs) investing in industrial energy efficiency and small-scale renewable energy projects, the EBRD said on Monday.

The loan is extended under the EBRD’s Romania SME Sustainable Energy Financing Facility (RoSEFF) and the Joint IFI Action Plan for Growth in Central and South Eastern Europe launched in November 2012 by the EBRD, the European Investment Bank Group (EIB Group) and the World Bank Group, the EBRD said in a statement.

The EBRD's investments in projects across Romania amount to 6.3 billion euro, mobilising more than 13 billion euro of further financing from other sources.

($ = 0.7588 euro)

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