EBRD achieves its €100 million target for GEFF Romania
This Green Economy Financing Facility for the residential sector helped to mainstream green mortgages and build awareness of the use of energy performance standards in Romania.
Three participating financing institutions used their loans from EBRD to extend 8,195 credits with a combined value of €100 million to households for green investments, of which:
Banca Transilvania used its €40 million of GEFF financing to help 1,757 households buy energy-efficient homes and invest in green household technologies.
UniCredit Bank used its €35 million of GEFF financing to help 602 households buy energy efficient homes.
UniCredit Consumer Financing used its €25 million of GEFF financing to help 5,836 households buy green technologies and equipment for the home.
The overall composition of the GEFF portfolio included:
1,334 Assessment-based credits, meaning green home mortgages of up to €100,000 to buy dwellings with Energy Performance Certificates (EPC) category ‘A’ or ‘upper B’.
6,861 Green Technology-Selector (GTS) based credits, mainly in the form of green consumer loans for households to use to buy green technologies that meet GEFF technical performance standards.
This residential GEFF in Romania brings an estimated 67 GWh of energy savings per year, avoiding more than 15,000 tonnes CO2 emissions per year to the atmosphere
EBRD has provided €6 billion to more than 180 participating financial institutions through its GEFF programme which finances multiple sectors in 28 countries. As a result, 250,000 green investment opportunities have been financed, collectively avoiding eight million tonnes of CO2 emissions per year.
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