The European Bank for Reconstruction and Development (EBRD) announced that it is granting a senior loan of up to EUR 70 million to non-bank financial institution (IFN) UniCredit Leasing Corporation (UCL) as part of the Financial Intermediation Programme.

The loan granted by the EBRD will be used to finance small and medium enterprises in Romania, in line with the FIF-IMM Policy Statement, Economica.net reported. At least 40% of the money must go to projects that comply with the green economy transition criteria.

UniCredit Leasing Corporation is owned by UniCredit Bank Romania.

According to the EBRD, UCL has adequate and suitable systems based on UniCredit and IFC standards. The institution has designated personnel responsible for managing and verifying environmental and social issues.

iulian@romania-insider.com

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