EBRD to lend €80 mln to Romanian companies

The funds will be made available through a regional EU program for Romania and Bulgaria, totaling €100 mln.

“We are starting with €35 million, based on financing agreements with BCR - €20 million, Banca Transilvania - €5 million and CEC - €10 million. We will sign agreements with other banks as well to ensure that the whole amount is used by the end of the year,” said EBRD’s Manager for Energy Efficiency and Climate Change, Stefania Racolta.

Companies can borrow up to €2.5 mln of these funds, will be provided with free technical assistance, and a 15 percent grant (up to €350,000) provided the investments are implemented successfully.

Energy efficiency investments are set to lead to energy savings of at least 20 percent.

The program was launched yesterday by EBRD and consulting company Trapec (Tractebel Project-Managers, Engineers and Consultants).