Project description
and objectives:
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The proposed project will consist of loans to Participating Banks in Romania and Bulgaria in the amount of up to EUR 100 million in total. The participating banks will on-lend the funds to private industrial enterprises for energy efficiency projects. The Project will increase financial intermediation and financing for rational energy utilisation and provide benefits in terms of energy savings, thereby mitigating high energy intensity in the region. The Project will be complemented by grant funding of EUR 24 million from the European Union (“EU”) for technical cooperation and for incentives at the level of sub-borrowers and banks.
This Framework is being implemented under an EU sponsored programme with a wider geographic coverage including Romania, Bulgaria, Croatia and a broader use of proceeds covering the industrial as well as the residential sector.
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Sub-projects:
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- EUEFF - United Bulgarian Bank credit line
- EUEFF - Unicredit Bulbank credit line
- EUEFF - Banca Comerciala Romana
- EUEFF - CEC Bank S.A
- EUEFF - Banca Transilvania
- EUEEFF - BRD Romania
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Transition impact:
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The project will help overcome market imperfections that prevent energy efficiency investments in Romania & Bulgaria. The financially intermediated model has proven successful in reaching a wide range of sub-borrowers in the industrial sector thereby achieving maximum impact of donor funds on rational and sustainable energy utilisation. The proposed project will result in demonstration effects of successful energy efficiency investments and building expertise among the Participating Banks and Sub-borrowers.
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The client:
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The Framework will be available for qualifying Participating Banks (“PBs”), in Romania and Bulgaria.
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EBRD finance:
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Senior Loans to participating Banks In Romania & Bulgaria up to a total amount of EUR 100 million.
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Total project cost:
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EUR 100 million.
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Environmental impact:
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FI screened operation. Participating Banks will require that companies financed through this credit line comply with national requirements for environment, health and safety. Reporting on sub-projects and annual monitoring reports will be provided by Participating Banks. Increased efficiency in heat generation, reduction of heat transmission losses and improved efficiency in the use of heat and energy will lead to a reduction of air pollutants (e.g., SO2; NOx; CO2; particulates) resulting from heat and electricity generation. This is a clear and quantifiable environmental benefit in energy saving which is tracked and reported on by the consultants.
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Technical
cooperation:
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TC funding of approximately EUR 3.5m to be funded from the European Union will be required to cover the following scope :
- Private sector sub-borrowers will be assisted in developing Rational Energy Utilisation Plans (“REUPs”) which will
(a) present the structure of underlying investments
(b) ensure cost effectiveness in the identification of appropriate measures and consistency with criteria of the Facility
(c) assist in making loan applications.
- The Participating Banks will also benefit from the technical work as it will assist them in understanding and appraising loan applications for purposes with which they are unfamiliar.
- Marketing and outreach campaign to inform potential sub-borrowers about the facility and the benefits of rational energy utilisation.
- Information dissemination activities related to the Facility to inform a wide range of stakeholders about the Facility and the benefits of rational energy utilisation.
- Validation of implementation of eligible investments in accordance with the objectives of the Facility.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Terry McCallion, Senior Banker, Financial Institutions Team,
EBRD
One Exchange Square
London EC2A 2JN
Tel: +44 (0) 207 338 7478
Fax: +44 (0) 207 338 7380
E-mail:MccalliT@ebrd.com
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EBRD contact:
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Teresa Godwin-Coombs, Operation Leader: godwint@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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