The European Investment Bank (EIB), one of the largest multilateral financing institutions in the world and one of the largest providers of climate finance, has signed a contract with Patria Bank for the granting of financing in the amount of 25 million euros. This represents a first tranche of a total level of 50 million euros approved by the EIB for Patria Bank within the Multiple Beneficiary Intermediated Loan (MBIL) program. The financing will support the Bank in offering credit solutions to eligible SME customers and medium-sized companies in Romania, with a partial allocation to climate projects.
The types of climate projects that can be financed, representing an important component of the bank’s strategy related to sustainability, include solar energy projects, wind energy, production of renewable energy equipment, energy storage equipment, energy efficiency projects, fleets of vehicles with low carbon emissions, charging stations for electric vehicles and those with hydrogen-based engines.
“One of the long-term commitments of the Patria Bank Group is to support the entrepreneurial environment in Romania and to provide entrepreneurs with a diversified portfolio of financing solutions to help them develop their businesses in a sustainable way. The new strategic partnership with the European Investment Bank facilitates the continued growth and development of the Bank, with the ultimate goal of improving access to financing for as many entrepreneurs as possible in Romania. In addition, this collaboration helps us to play through the green financing solutions we will offer an important role in the transformation of the Romanian business environment into a responsible and environmentally friendly direction,” said Valentin Vancea, CEO of Patria Bank.
“This financing agreement with Patria Bank underlines our commitment to support small and medium-sized enterprises in Romania, while contributing to climate and sustainability objectives. Through this collaboration, we improve access to financing for Romanian entrepreneurs and produce a positive impact on the economy and the climate. We are proud to support Patria Bank in its efforts to transform Romania’s business environment into a greener, more sustainable one,” said EIB Vice President Ioannis Tsakiris.
The partnership with the EIB will have a positive impact on the Bank’s development and future financing transactions. This partnership also contributes to the diversification of Patria Bank’s long-term funding sources, in line with the bank’s development strategy.