October 5 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Wednesday it is lending 50 million euro ($49.34 million) to UniCredit Leasing Corporation to support lessees from Romania’s micro, small and medium businesses (MSMEs).
The loan will ensure these firms maintain uninterrupted access to finance, while diversifying the client’s funding base and helping it become more competitive and resilient, the EBRD said in a press release.
The credit line will help expand lease financing to private businesses in Romania, encouraging them to invest in high performance standards, technologies and services, enabling them to become more competitive and energy efficient.
Part of the use of proceeds will be aligned with the EBRD’s green goals. Under the EBRD’s Green Economic Transition approach, the bank aims to align all its business with the goal of the Paris Agreement on limiting climate change to 1.5C by January 1 2023, and it will make at least half its investments green by 2025.
UniCredit Leasing Corporation IFN is owned by UniCredit Bank Romania.
The EBRD’s focus in Romania is on financing infrastructure, especially in the regions, boosting private sector productivity and further developing the financial sector and capital markets. To date, the EBRD has financed 497 projects in Romania for a total of more than 10 billion euro.
($= 1.0133 euro)
UniCredit Bank SA (formerly known as UniCredit Tiriac Bank SA) is among the biggest banks in SEE. You can download our SEE Top 100 ranking
here or subscribe to our free Top 100 newsletter
here