The European Investment Bank (EIB) is providing a €25 million loan to Patria Bank to support green projects in Romania, particularly those led by women entrepreneurs and small and medium-sized enterprises (SMEs) in rural areas.
€25 Million Loan for Romanian green projects Growth
The European Investment Bank’s €25 million loan to Patria Bank is set to drive sustainable growth in Romania by focusing on green projects and boosting employment, especially in rural areas. This funding is aimed at supporting women entrepreneurs, small and medium-sized enterprises (SMEs), and mid-cap companies, with a strong emphasis on the agriculture sector.
This agreement marks the second collaboration between the two institutions, reinforcing a shared commitment to sustainable development. Patria Bank will use the funds to improve access to long-term, affordable credit for businesses in underserved regions, thereby contributing to job creation and economic cohesion. Crucially, 20% of the loan—€5 million—is specifically allocated for climate action initiatives. This financing is part of a broader trend of solar investment Europe is seeing, with institutions channeling capital towards a cleaner future.
EIB Vice-President, Ioannis Tsakiris, emphasized the loan’s role in providing stability and predictability for businesses. He highlighted how this support helps companies lower electricity costs amid market volatility, which is particularly vital for the SMEs that form the backbone of Romania’s economy.
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“The EIB is pleased to support Patria Bank in promoting green and sustainable projects in Romania. This €25 million loan will help create jobs and promote growth in rural areas, while also addressing the urgent need to scale up climate action,” Tsakiris said.
Supporting Women Entrepreneurs and SMEs in Romanian green projects
The loan is strategically designed to support women entrepreneurs and SMEs in Romania, promoting gender equality and fostering a more inclusive business ecosystem. Patria Bank, known for its focus on rural and agricultural businesses, will leverage these funds to provide accessible financing to enterprises that often face challenges securing traditional bank loans. This initiative empowers entrepreneurs by providing them with the necessary resources to scale their operations and contribute to the national economy.
A great example of the potential impact can be seen in the food industry, where recent funding has spurred the adoption of solar energy. This loan could similarly enable agricultural SMEs to invest in their own green projects, following the successful model of recent grants for PV panels installation in Romania’s food industry.
Valentin Vancea, Director General of Patria Bank, highlighted that the partnership reinforces the bank’s role in championing entrepreneurship and local development. He noted that the funds will allow Patria Bank to offer tailored financial solutions and targeted support for green projects across the country.
“We are very excited about this new partnership with the EIB. The loan will help us support the development of Romanian SMEs, especially in agriculture. The funds will be used to facilitate investments in green projects, which are becoming more and more important in the fight against climate change,” Vancea stated.
Driving Green and Sustainable Romanian green projects
The EIB’s focus on green projects aligns with its broader mission to promote environmental sustainability and climate action. The loan to Patria Bank will support a range of initiatives, including renewable energy solutions like rooftop solar panels, energy efficiency improvements, and sustainable agriculture practices. These projects also open up opportunities in the local supply chain, from understanding the basics of solar panel manufacturing to sourcing the necessary solar panel raw materials.
These investments are expected to contribute not only to environmental goals but also to job creation and economic stimulus in rural communities. By providing dedicated financing, the EIB is helping Romania accelerate its transition to a low-carbon economy. This move is crucial for meeting the country’s climate targets and is part of a larger regional push, with institutions like the EBRD also approving funds for green energy investment in neighboring areas. The timing is opportune, as major developers like FF Ventures enter Romania with 1GW solar project plans, signaling strong market confidence.
The partnership between the EIB and Patria Bank is a significant step towards promoting sustainability and inclusive growth in Romania. With this €25 million loan, Patria Bank is better equipped to support green innovation, empower women entrepreneurs, and drive economic development where it’s needed most. This collaboration is set to have a lasting impact on Romania’s economy and environment, paving the way for a more resilient future.
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