The EBRD is lending €50 million in local currency to UniCredit Bank Romania to increase its funding base further and continue supporting the economy, focussing on private businesses in the challenging economic environment caused by the war in Ukraine.
The loan falls within the EBRD’s Resilience and Livelihoods framework – €2 billion pledged by the EBRD to support companies and countries directly or indirectly affected by the war in Ukraine.
Supporting Romanian companies weather the impact of the war on Ukraine is of critical importance. The Romanian economy has been negatively affected by spillover effects including inflation – consumer prices were up 15.1 percent year on year in June, while producer prices rose 48.1 percent – and strained supply chains and logistics infrastructure, affecting a broad spectrum of economic sectors. Providing businesses with financing will enable them to remain operational, thus safeguarding the resilience of their human capital and sustaining the livelihood of the entrepreneurs and that of their workforce.
UniCredit Bank is one of the top and most systemic banks in Romania, operating a network of over 165 branches.
The EBRD is a major institutional investor in Romania. To date, it has invested almost €10 billion in 491 projects in the country. An EBRD priority in its work in Romania is EBRD works in Romania to diversify and deepen the financial system and strengthen its resilience.