GEFF - Banca Transilvania Romania (EBRD-49186)

Countries
  • Romania
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 4, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
BANCA TRANSILVANIA SA
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 29.90 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 28,000,000.00
Converted using 2017-03-31 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 31, 2017

Disclosed by Bank Mar 30, 2017


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Project Description
PROJECT DESCRIPTION Provision of a senior loan to Banca Transilvania SA in the amount of up to EUR 40 million (the "Loan") under the Green Economy Finance Facility (the "Facility") focusing on financing green investments in the residential sector in Romania. The financing will be used for on-lending to eligible sub-borrowers for investments in energy and resource efficiency measures in the residential buildings. PROJECT OBJECTIVES The Loan will be the first dedicated green economy financing loan of the Bank targeting the residential buildings in Romania. The proceeds of the Loan will be used to extend loans for residential energy efficiency projects in line with the objectives of the Romania Green Economy Financing Facility. TRANSITION IMPACT The Loan is expected to contribute to transition by (i) demonstrating the effects of green economy investments to Banca Transilvania SA and subiborrowers, market expansion by increasing the availability and access to residential green economy finance and high-performance green technologies and (ii) transfer of skills to Banca Transilvania SA, sub-borrowers and intermediaries for residential green economy projects. CLIENT INFORMATION BANCA TRANSILVANIA SA EBRD FINANCE SUMMARY EUR 28,000,000.00 TOTAL PROJECT COST EUR 40,000,000.00 ENVIRONMENTAL AND SOCIAL SUMMARY Categorised FI. Banca Transilvania will be required to comply with the EBRD's Performance Requirements 2, 4 and 9 and apply the E&S requirements to the sub-projects under the Facility as well as submitting annual environmental and social reports to the EBRD. TECHNICAL COOPERATION The Loan will benefit from the Technical Assistance package implemented under the Facility. COMPANY CONTACT INFORMATION Mihaela Nadasanmihaela.nadasan@btrl.ro+40(0)264.407.150
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Banca Transilvania SA was established in 1994 and is the second largest bank by total assets in Romania (as of December 2016). Banca Transilvania SA is listed on the Bucharest Stock Exchange since 1997 (with a current market capitalization of around EUR 2.2 billion).
Contact Information
ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.