October 13 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Friday it is considering a loan of up to 30 million euro ($35.5 million) to Romania's UniCredit Bank and UniCredit Consumer Financing.
The financing would be used for onlending to eligible sub-borrowers for investments in energy and resource efficiency measures in the residential buildings, the EBRD said in a press release.
The EBRD board will gather on November 16 to decide on the financing.
Part of the Green Economy Finance Facility focusing on financing green investments in Romania's residential sector, the loan is expected to contribute towards building a green economy, the bank added.
This would be achieved by demonstrating the effects of green economy investments to beneficiaries, by increasing the availability and access to residential green economy finance and high-performance green technologies and by transferring skills and knowledge to beneficiaries on residential green economy solutions.
UniCredit Bank SA, a subsidiary of Italy's UniCredit SpA, was established in Romania in 2007. It offers universal banking services and is the fifth largest bank in Romania in terms of total assets, with a market share of 8% at end-March.
UniCredit Consumer Financing IFN was founded in 2008 as part of UniCredit Group in Romania, operates as a non-banking financial institution and is one of the market leaders in consumer finance in Romania.
The EBRD has invested close to 7.5 billion euro in Romania to date in almost 400 projects.
($ = 0.8436 euro)