The European Bank for Reconstruction and Development (EBRD) and Banca Transilvania join forces to improve the energy efficiency of residential buildings in Romania, according to a press release issued by energynomics.ro.
TaiwanICDF joins efforts to modernize and improve residential buildings by addressing a key issue for Romania – high energy consumption. Thus, EBRD grants Bank of Transilvania a loan of 40 million euros for loans to households, owners’ associations and service providers for investments aimed at reducing energy consumption.
According to the EBRD, the loan is part of the Green Economy Finance Facility.
According to the GEFF program in Romania, a program with a value of up to 100 million euros to finance investments in the green economy, GEFF will initially include EUR 50 million from the funds made available by the EBRD, according to the press release.
“We hope that this collaboration between TaiwanICDF and the EBRD for the GEFF program in Romania, focusing on energy efficiency in the residential sector, will lead to an increase in green investments, stimulating the use of the best ecological technologies in Romania. This will also bring a positive and sustainable impact on the environment. The TaiwanICDF vision is the partnership for progress and we will continue to work with our partners towards sustainable development, “said Ambassador Weber V.B. Shih, Secretary General of TaiwanICDF.
Matteo Patrone, EBRD Regional Director for Romania and Bulgaria, said that “most residential buildings in Romania were built between 1960 and 1990 with low thermal insulation. Improving energy efficiency is a priority, but access to finance for such investments remains limited. We are glad to offer a new financial product that addresses this issue and we are pleased to sign the first project with Banca Transilvania”.
“The EBRD is delighted to join forces with its long-standing partner Banca Transilvania for a pioneering financing of energy efficiency in the residential sector in Romania. We are committed to demonstrating that this area has a high business potential and we look forward to as many partners as possible to join the effort, “added Lucyna Stanczak-Wuczynska, EBRD Director for Financial Institutions in the EU.
According to Ömer Tetik, Transilvania Bank’s General Manager, “it is the third EBRD financing line received by our bank to support investments in energy efficiency projects. Of these, the first two were dedicated to small and medium businesses, and the one for the first time is for individual customers. These partnerships bring benefits to the people, the environment and the economy, and Banca Transilvania is a new opportunity to support the entrepreneurial spirit and the healthy and sustainable growth of the Romanian economy. “
Established in 1994, Banca Transilvania is the second largest bank by total assets in Romania. EBRD has been a shareholder since 2001.
EBRD is the largest institutional investor in Romania. The Bank has so far invested over 7.5 billion euros in almost 400 projects.