EBRD invests more in energy efficiency

Newsroom 14/09/2007 | 16:25

The institution focused on projects that support energy efficiency and the development of sustainable energy sources.
The EBRD's 2006 earnings rose to EUR 2.4 billion from a previous EUR 1.5 billion, mainly as a result of the realisation of previous equity investments.
Romania is on the EBRD's agenda to promote energy efficiency. Until now, the bank has focused on the Bulgarian market where EUR 155 million was given to local banks to help entrepreneurs and households improve energy efficiency and renewable energy. To date, nearly 70 corporate projects and over 6,000 residential projects have been approved. Croatia, Georgia, Russia and Slovenia will be considered for similar projects.
Last year, the financial institution announced that in the next five years its activity would turn more to the east and south with a bigger importance given to Russia, Ukraine, Central Asia, the Caucasus, the Western Balkans and South East Europe, while its activity in Central Europe will be reduced.
The share of the bank's investments in Central Europe and the Baltic region decreased in 2006 to 14 percent from 16 percent, totaling EUR 701 million.

Roxana Mihul

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