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EBRD lending 50 mln euro to UniCredit's Romanian unit for cos affected by Ukraine war

EBRD lending 50 mln euro to UniCredit's Romanian unit for cos affected by Ukraine war Photo: EBRD

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
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