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eeef Annual Report 2013

Key figures Country Romania Sector Energy Efficiency/ Renewable EnergyRenewable Energy Type of investment Subordinated debt Total project size (¤ m) 25 eeef investment size (€ m) 25 Financial Close 27 September 2013 Maturity 10 years Expected CO2 emission savings (tonnes p.a.) Min. 20% Banca Transilvania Project Profile eeef provided a refinancing facility to Banca Transilvania (BT), one of the leading banks in Romania, for a green on-lending programme to support energy efficiency and renewable energy investments of the public sector in Romania. It is the first cooperation of the eeef with a finan- cial institution and also the first transaction in Eastern Europe. eeef will support BT in sourcing and evaluating the projects. BT will ensure that financed projects comply with eeef’s require- ments with respect to CO2 emission/primary energy consumption reduction of at least 20%. Further, eeef may jointly finance projects with BT in case larger financing amounts are required. Project Highlights In BT, eeef has won a strong local partner with credentials in financing several energy efficiency projects, and one which has a strong footprint in financing small and medium sized enterprises (SMEs). Banca Transilvania is the 3rd largest Romanian bank, by assets. This co-operation will help to strengthen the Romanian banking sector by providing financing to energy efficiency and smaller-scale renewable energy projects, prima- rily through the provision of financing to public and private building owners, homeowner/con- dominium associations and municipalities, pub- lic sector entities and private sector companies acting on behalf of the public sector. The bank is also qualified to take on technical assistance funds in escrow and to allocate them to eligible public beneficiaries who receive funds from the eeef facility provided to Banca Transilvania. Banca Transilvania: sub-loans under the eeef subordinated debt facility Banca Transivania focused in the last quarter of 2013 on projects dealing with public transporta- tion and building retrofitting, thereby on-lending €14.9m from the eeef facility. Giroc Cluj Bucharest 18 eeef Annual Report 2013