According to the Bank's website, this project finances on-lending to small and medium-sized enterprises, with 30 percent of the proceeds channelled to funding sustainable energy finance projects.
Expected developmental impact will be derived from:
i) Access to finance for SMEs, which remains a major obstacle, especially in the most vulnerable regions of the Country. Although Romanian banks remain the main source of financing, in recent years companies have increasingly resorted to other financing sources such as leasing and other NBFIs.
ii) Access to climate finance, as IFC anticipates that the Project will increase access to energy efficiency and renewable energy projects. This will enable businesses to improve their environmental impact by implementing climate-smart practices such as purchasing through leasing energy-efficient vehicles and equipment; and
iii) IFC anticipates that the Project would result in increased competitive pressures in the SEF space and would have market impact through the competition and demonstration channels. The Project is expected to enhance the visibility and marketability of the SEF products offered in Romania and foster competition in this market. Supporting UCLC would result in expanding the financing potential for projects compliant with international energy saving criteria and would positively contribute to tackling climate challenges.
UniCredit Leasing Corporation IFN S.A.
Strategy, Data Governance & Cash Management Finance
+40 (0)21 2007 949
Sector 1, 014106, Bucharest, Romania
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