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EBRD launches energy efficiency framework for Romanian households

Supporting Romanian households to save energy and money, the European Bank for Reconstruction and Development (EBRD) is launching a 100 million Euro Green Economy Financing Facility (GEFF) for the country, a press release shows.

2017-06-27 13:48:15

The framework is designed to help Romanian households invest in energy efficiency, renewable energy and water-saving solutions. It is the first time that the EBRD is financing energy efficiency in Romania's residential sector. Loans will be provided via local partner banks.

Matteo Patrone, EBRD Regional Director for Romania and Bulgaria, said: "Most of Romania's residential buildings were constructed between 1960 and 1990 with low thermal insulation. While energy efficiency improvements are urgently needed, access to finance for such investments remains limited. We are happy to offer a new financing product that addresses this issue and look forward to Romanian banks joining the effort."

Borrowers may be individuals, groups of individuals, housing associations or companies providing green energy products and services. They will be able to choose off-the-shelf green solutions and receive free technical advice on tailor-made low-energy solutions for complex investments. Technical assistance is grant-funded by the Global Environment Facility and the EBRD Shareholder Special Fund.

Banca Transilvania is the first local lender to join the framework and has received a 40 million Euro loan for on-lending to households, housing associations and service providers for energy-saving investments. The TaiwanICDF, which is in charge of Taipei China's overseas development programme, has contributed 12 million USD to the loan.

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



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