Monday, December 12, 2011

Romania ROSEFF SME Energy Efficiency

The EBRD is considering a SME Energy Efficiency Facility of up to EUR 20 million to BRD SocGen (BRD) to be on-lent by BRD to SMEs in Romania. The proceeds of the loan will be used by BRD to provide medium and long-term financing to private companies for projects aiming to save energy. In addition, the EBRD is also considering a Municipality Energy Efficiency Facility of EUR 10 million. Both projects will be implemented under distinct frameworks already made public.

The SME Energy Efficiency Facility will contribute to the transition process by maintaining an essential flow of lending to private enterprises at a time when the availability of credit, particularly to SMEs, has been constrained. Transition impact potential also derives from the demonstration effect associated with the energy savings and will help improvement of costs of the private SME sector.

BRD SocGen, Romania (BRD). As of end-September 2011, BRD’s total assets amounted to EUR 10,579 million and total equity amounted to EUR 1,154 million (RAS). The audited IFRS 2010 net profit was at EUR 240 million. BRD is the second largest Romanian bank, with a 14.05% market share of total banking assets as of end-June 2011.

European Bank for Reconstruction and Development. Country:Romania.Project number:43502.Business sector:Lending to Banks.Public/Private:Private Board date: 28 Feb 2012. Status: Passed concept review, Pending final review.PSD disclosed: 9 Dec 2011