EBRD Backs Energy Efficiency Projects in Romania

The European Bank for Reconstruction and Development is offering a euro10 million (USD13.6 million) loan to help finance energy efficiency initiatives in Romania.

The credit line was offered to the BRD Societe Generale, a local bank, and is expected to fund energy efficiency investments of Romanian companies through long-term loans of up to euro2.5 million each.

The loan will supplement an earlier euro10 million credit provided by EBRD to BRD Societe Generale in support of similar projects, EBRD said in a press release.

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.