BUCHAREST (Romania), August 1 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it is providing a 246 million lei ($51 million/50 million euro) loan to Romania's UniCredit Bank for on-lending to companies which have been directly or indirectly impacted by economic spill-over effects of the war on Ukraine.
The three-year senior unsecured loan will be used for on-lending to businesses in Romania that have been directly or indirectly affected by economic consequences of the war on Ukraine through supply-chain disruptions and other shocks, with the ultimate goal of preserving livelihoods in the country, the EBRD said in a notice on Friday.
The project is expected to support a systemic bank's resilience to market shocks and diversify its funding structure and help Romanian businesses to remain operational, the EBRD added.
(1 euro=4.9287 lei)
UniCredit Bank SA (formerly known as UniCredit Tiriac Bank SA) is among the biggest banks in SEE, for more reference take a look at Top 100 banks