EIB lends EUR 15.3 mln energy efficiency of residential buildings in Bucharest’s District 6

Newsroom 21/12/2016 | 16:14

The European Investment Bank (EIB) is lending EUR 15.3 million (the first installment of an approved EIB loan for a total amount of EUR 40 million) to finance the second phase of the refurbishment program covering multi-family housing in the municipality of District 6. The project is expected to result in savings of around 50 percent of the heating energy consumption of the buildings concerned.

This project will help to implement Romania’s National Energy Efficiency Action Plan targeting the thermal rehabilitation of multi-storey buildings. The EIB loan will help Romania meet its commitments under the EU Energy Performance in Buildings Directive. It will contribute to the improvement of the environment through a reduction in emissions and pollution.

The expected project cost amounts to EUR 54.5 million. In order to support the energy efficiency project in Bucharest, the Bank’s contribution has been raised to 75 percent of the project’s cost. The municipality’s own sources are expected to cover the remaining 25 percent of the costs.

The current project is a continuation of the EIB’s cooperation with various districts of Bucharest. To date, the EIB has provided funding amounting to EUR 460 million to finance the energy efficiency refurbishment of multi-apartment buildings in various districts of Bucharest.

Georgiana Bendre