European Investment Bank Financing Bucharest Multi-Family Refurbishment Program

EIB Supports Investment to Increase Energy Efficiency of Residential Buildings in Bucharest

Solar Thermal Magazine, July 25, 2014

The European Investment Bank (EIB) is providing EUR 22.47 million – the first tranche of an approved EIB loan for a total amount of EUR 136.5 million – to finance the second phase of the refurbishment programme for multi-family housing in the Sector 1 municipality of the Romanian Capital of Bucharest. The project is expected to result in around 50% savings in the heating energy consumption of the buildings concerned.

“EIB President Werner Hoyer commented, “EIB funds will contribute to the implementation of the National Energy Efficiency Action Plan of Romania through the thermal rehabilitation of multi-story buildings. At the same time, the EIB loan will help Romania to meet its commitments under the EU Directive on the energy performance of buildings. This will improve the environment in terms of reduced emissions and pollution, with positive implications for the living standards of the citizens of Bucharest.”

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