News

EBDR Promotes Sustainable Energy in Romania

12 December 2011: The European Bank for Reconstruction and Development (EBRD) has selected the ten best projects financed under the joint EU-EBRD programme “Energy Efficiency Finance Facility” to support Romania's energy security strategy, increase energy savings and reduce carbon emissions.

The energy-efficiency investments selected cover a wide range of private sector industries, from agriculture and food-processing to steel manufacturing and paper printing. Building on the successful implementation of the programme, the EBRD, in cooperation with the European Commission, developed a new €60 million financing facility for the period 2012-2014, the "Romanian Small and Medium-sized Enterprises Sustainable Energy Financing Facility." Launched in September 2011, the new facility is expected to support local companies maximise energy savings and improve their overall competitiveness, while contributing to a reduction in the country's high energy intensity. The new facility will feature loans extended via participating financial institutions to invest in energy efficiency and small-scale renewable energy projects. [EBDR press release]