EBRD supplements BCR credit line
The loan is supplementing a similar 20 million Euro credit line offered by the EBRD to BCR in 2008.
Extended under the EU/EBRD Energy Efficiency Finance Facility framework, the loan will be used to finance energy efficiency investments undertaken by Romanian businesses with long-term loans worth up to 2.5 million Euro each. According to the EBRD, the project will enable Romanian companies to maximise energy savings, mitigate the impact of rising energy prices and to improve their overall competitiveness.
With the support of grant financing from the EU, sub-borrowers undertaking sustainable energy investments will be eligible for an incentive payment from the EBRD of up to 15 per cent of the amount of their investment upon the completion of the works, subject to applicable conditions.
With the support of the initial loan from the EBRD, BCR financed 14 energy efficiency projects, which enabled BCR clients to reduce their energy bills and cut emissions by up to 60 per cent per year and improve their overall productivity.
“Reducing energy intensity is a high priority for the EBRD in , which has a substantial potential for energy efficiency improvements. We are pleased to continue our successful cooperation with BCR by extending new financing for sustainable energy projects,” said Jean-Marc Peterschmitt, EBRD Director for Financial Institutions.
In turn, Wolfgang Schoiswohl, Executive Vice-President of BCR, said: “The successful implementation of the first Energy Efficiency facility was based on strong efforts undertaken by BCR in this respect. It shows BCR’s strategic dedication to a sector which is vital under the current global context. The additional funding by the EBRD is part of a strategic relationship we have with this international financial institution.”
Since the beginning of its operations in the EBRD has committed over 4.5 billion Euro across close to 270 projects, which attracted additional investment of over 8.3 billion Euro.
Extended under the EU/EBRD Energy Efficiency Finance Facility framework, the loan will be used to finance energy efficiency investments undertaken by Romanian businesses with long-term loans worth up to 2.5 million Euro each. According to the EBRD, the project will enable Romanian companies to maximise energy savings, mitigate the impact of rising energy prices and to improve their overall competitiveness.
With the support of grant financing from the EU, sub-borrowers undertaking sustainable energy investments will be eligible for an incentive payment from the EBRD of up to 15 per cent of the amount of their investment upon the completion of the works, subject to applicable conditions.
With the support of the initial loan from the EBRD, BCR financed 14 energy efficiency projects, which enabled BCR clients to reduce their energy bills and cut emissions by up to 60 per cent per year and improve their overall productivity.
“Reducing energy intensity is a high priority for the EBRD in , which has a substantial potential for energy efficiency improvements. We are pleased to continue our successful cooperation with BCR by extending new financing for sustainable energy projects,” said Jean-Marc Peterschmitt, EBRD Director for Financial Institutions.
In turn, Wolfgang Schoiswohl, Executive Vice-President of BCR, said: “The successful implementation of the first Energy Efficiency facility was based on strong efforts undertaken by BCR in this respect. It shows BCR’s strategic dedication to a sector which is vital under the current global context. The additional funding by the EBRD is part of a strategic relationship we have with this international financial institution.”
Since the beginning of its operations in the EBRD has committed over 4.5 billion Euro across close to 270 projects, which attracted additional investment of over 8.3 billion Euro.
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