December 21 (SeeNews) - The European Investment Bank (EIB) said that it has signed a 50 million euro ($54.8 million) loan agreement with Romania’s BRD Sogelease IFN to support small and medium-sized enterprises (SMEs) and mid-caps, and contribute to general sustainable growth.
BRD Sogelease will leverage EIB financing to facilitate affordable lending to eligible clients, as part of a broader initiative to provide favourable financing to SMEs, emphasising the lender’s commitment to environmental sustainability, with 20% of the loan earmarked for green investments, EIB said in a press release on Wednesday.
"I am confident that our advisory tools will also help BRD Sogelease promote the greening of Romanian businesses, helping the country make the most of EIB lending,” EIB vice-president Kyriacos Kakouris said.
An EIB advisory team will assist in the origination and assessment of green investments under the Green Gateway advisory programme established by the bank to assist financial institutions in facilitating loans for climate change mitigation, adaptation and environmental sustainability projects supported by EIB Group financing. The team will assist BRD Sogelease staff in understanding EU regulations for sustainable finance, taxonomy, and climate risk management, while also providing training on the Green Eligibility Checker, an EIB tool for assessing sustainable investments.
BRD Sogelease IFN is the leasing subsidiary of Romanian lender BRD Groupe Societe Generale, part of France’s Societe Generale Group.
($=0.9128 euro)
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