| Project Detail |
Project Description
Provision of a senior loan to UniCredit Bank SA and UniCredit Consumer Financing IFN SA in the amount of up to EUR 30 million under the Green Economy Finance Facility focusing on financing green investments in the residential sector in Romania. The financing would be used for onlending to eligible sub-borrowers for investments in energy and resource efficiency measures in the residential buildings.
Project Objectives
The proceeds of the loan would be used to extend loans for residential energy efficiency projects in line with the objectives of the Romania Green Economy Financing Facility.
Transition Impact
The loan is expected to contribute towards building a green economy by (i) demonstrating the effects of green economy investments to UniCredit Bank and UniCredit Consumer Financing and subborrowers, market expansion by increasing the availability and access to residential green economy finance and high-performance green technologies (ii) transferring skills and knowledge to UniCredit Bank and UniCredit Consumer Financing, sub-borrowers and intermediaries on residential green economy solutions.
Client Information
UNICREDIT CONSUMER FINANCING IFN SA
UniCredit Bank SA, a subsidiary of UniCredit SpA, was established 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 per cent as of 1Q 2017.
UniCredit Consumer Financing IFN SA 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.
EBRD Finance Summary
EUR 23,000,000.00
Total Project Cost
EUR 30,000,000.00
Environmental and Social Summary
Categorised FI. UniCredit Bank SA and UniCredit Consumer Financing would be required to comply with the EBRDs performance requirements 2, 4 and 9 and apply the environmental and social requirements to the sub-projects under the facility as well as submitting annual environmental and social reports to the EBRD.
Technical Cooperation
The Loan is expected to benefit from the Technical Assistance package implemented under the Facility. |
