Energy Efficiency

New EUR 45 million loan for energy efficiency in Romania’s residential sector

New EUR 45 million loan for energy efficiency in Romania’s residential sector

Photo: Pixabay

Published

December 26, 2017

Country

Comments

0

Share

Published:

December 26, 2017

Country:

Comments:

0

Share

Romanian households owners will be provided with additional EUR 45 million to invest in energy efficiency improvements, such as heating, water, and electricity, as well as additional building enclosures such as walls, windows and roofs, for their homes.

Most of Romania’s residential buildings were constructed between 1960 and 1990 with low thermal insulation.

“The European Bank for Reconstruction and Development (EBRD) decided to extend its support for energy efficiency investments in Romania’s residential sector through a loan of up to RON 206 million (EUR 45 million equivalent) to UniCredit Bank Romania SA and UniCredit Consumer Financing IFN SA,” the EBRD said in a statement.

Technical assistance is provided through grants by the Global Environment Facility and the EBRD Shareholder Special Fund.

TaiwanICDF – International Cooperation and Development Fund will contribute up to RON 29 million (EUR 6.3 million equivalent) as concessional financing.

This is the second loan under the new EBRD Green Economy Financing Facility (GEFF). Launched earlier in 2017 with a total volume of up to EUR 100 million, this framework is designed to help Romanian households invest in energy efficiency measures and renewable energy.

It is the first time that the EBRD is financing energy efficiency in Romania’s residential sector while loans are provided via local partner financial institutions.

GEFF is part of the EBRD’s Green Economy Transition approach, under which the Bank aims to dedicate 40% of its annual investments to climate finance by 2020 compared with an average of around 25 per cent in the previous five years.

Lucyna Stanczak-Wuczynska, EBRD Director for EU banks, said that this new transaction is part of Banks’s strategy to scale up financing for energy efficiency investments in Romania and other countries where the EBRD invests.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

EU energy ministers targets renewables energy efficiency

EU energy ministers aiming at more ambitious renewables, energy efficiency targets

28 June 2022 - The Council of the EU wants to boost the renewables and energy savings targets via the Fit-for-55 package, which depends on upcoming talks

Skrekas Greece triple LNG storage renewable energy capacity

Skrekas: Greece to triple LNG storage, renewable energy capacity

27 June 2022 - Minister of Environment and Energy Kostas Skrekas said the government would mobilize over EUR 44 billion for Greece's energy sector by 2030

Austria ban gas boilers new buildings next year

Austria to ban gas boilers in new buildings in 2023

15 June 2022 - Austria is phasing out fossil fuels in heating, starting with a ban on the installation of gas boilers in new buildings from next year

MRE-GIZ-prosumers-project-june 2022

Germany’s GIZ to help Serbia make renewables available to everyone

09 June 2022 - Minister Zorana Mihajlović signed an agreement with GIZ on the Promotion of Renewable Energy and Energy Efficiency in Serbia