EBRD lends 50 million Euro to UniCredit Bank to support Romanian business
The EBRD is lending 50 million Euro in local currency to UniCredit Bank Romania to further increase its funding base and continue supporting the economy, focusing on private businesses in the challenging economic environment caused by the war on Ukraine.
The loan falls within the EBRD’s Resilience and Livelihoods framework – 2 billion Euro pledged by the EBRD to support companies and countries directly or indirectly affected by the war on Ukraine.
Supporting Romanian companies weather the impact of the war on Ukraine is of critical importance. The Romanian economy has been negatively affected by spillover effects including inflation – consumer prices were up 15.1 per cent year on year in June, while producer prices rose 48.1 per cent – and strained supply chains and logistics infrastructure, affecting a wide spectrum of economic sectors. Providing businesses with financing will enable them to remain operational, thus safeguarding the resilience of their human capital and sustaining the livelihood of the entrepreneurs and that of their workforce.
UniCredit Bank is one of the top and systemic banks in Romania, operating a network of over 165 branches.
The EBRD is a major institutional investor in Romania. To date it has invested almost 10 billion Euro in 491 projects in the country.