IFC Partners With UniCredit Bank to Boost Access to Climate Finance in Romania

A new IFC investment in senior bonds issued by UniCredit Bank S.A., the Romanian subsidiary of UniCredit S.p.A., representing the first tranche of the total EUR108 million investment approved in relation to UniCredit Bank's Euro Medium Term Notes Programme, will expand access to green loans for small and medium enterprises (SMEs) and individuals, including women, to bolster the country’s climate finance market and support its green transition.

Romania’s energy intensity remains over 60 percent higher than the EU average, even after a 30 percent reduction over the past decade. Although this presents a challenge, the country has committed to increasing its renewable energy consumption to 30.7 percent by 2030. Significant challenges remain in reducing greenhouse gas (GHG) emissions, particularly in the energy and housing sectors, which together account for a substantial portion of emissions.