http://www.newenergyworldnetwork.com/renewable-energy-news/by-technology/energy-efficiency/ebrd-invests-e10m-in-romania%e2%80%99s-sustainable-energy-drive.html

The European Bank for Reconstruction and Development (EBRD) has provided OTP Bank Romania with a €10m loan to finance sustainable energy projects undertaken by local businesses.

EBRD said the project will enable the private industrial sector to maximise energy savings and improve its overall competitiveness. The credit line will be used to finance energy efficiency investments by Romanian companies with long-term loans worth up to €2.5m each, it said.
The EBRD financing will be complemented by grant funding from the European Union (EU) under the EBRD and European Union Energy Efficiency Financing Facility Framework; supporting a technical assistance programme and targeted incentive payments for sub-borrowers to promote sustainable energy investments.
The initiative is expected to have a lasting effect on climate change mitigation efforts in Romania through providing access to long-term financing for the industrial sector, according to both EBRD and the local bank.
‘We see a huge future potential in the energy and energy efficiency business in Romania and consider that this will be one of the factors that will help Romania to get out of the crisis and contribute to its long-term stable growth,’ said OTP Bank Romania CEO LászlóDiósi.
This latest investment in the region follows a $180m commitment EBRD made in late 2010 to Romanian aluminum producer Alro to help it increase its energy efficiency. Since the beginning of its operations in Romania, the EBRD has committed over €4.8bn in various sectors of the country’s economy, which it said has attracted €9bn in additional investment.
The OTP Bank Romania is a subsidiary of OTP Bank, the largest independent banking group in East Central Europe.