EBRD Launches Energy Efficiency Facility for Small Businesses in Romania
26 September 2011: The European Bank for Reconstruction and Development (EBRD) has launched a €60 million programme to fund energy efficiency projects in Romanian small and medium-sized enterprises (SMEs).
Based on the recognition that Romania is a country with very high energy intensity, the Romanian SME Sustainable Energy Financial Facility (RoSEFF) aims to assist local companies reduce energy costs and improve their competitiveness. The funds will be channeled through local financial intermediaries with maximum individual loan size to be limited to €1 million. Additionally, EBRD says borrowers will be reimbursed 10 to 15% of the loan amount upon successful completion of energy efficiency upgrading. [EBRD Press Release]