IFC, EBRD Invest in Romania Renewable Energy Sector

A wind farm. The International Finance Corp. and European Bank for Reconstruction and Development will provide €57.4 million each to a local energy company that is expected to use the money for the construction and operation of two wind farms in Romania. Photo by: Håkan Dahlström / CC BY

The International Finance Corp. and the European Bank for Reconstruction and Development are lending a total of €114.8 million ($164.04 million) to Romania in support of the country’s efforts to increase its production and use of renewable energy.

IFC and EBRD will provide €57.4 million each to a local energy company that is expected to use the money for the construction and operation of two wind farms. This is the first time the two financial institutions are investing in Romania’s renewable energy sector.

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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.