The European Bank for Reconstruction and Development (EBRD) said that it has provided a loan in the amount of 30 million euros to Romanian privately-owned electricity and natural gas distributor and supplier Premier Energy in an effort to support the country’s energy security.
The statement from the Bank said that the loan will finance the working capital needs of the company amidst rising gas prices triggered by the war in Ukraine. It will enable Premier Energy to purchase gas and provide an uninterrupted supply to consumers in Romania in the upcoming winter.
The loan is part of the EBRD’s 2 billion euros Resilience and Livelihoods framework, which supports companies and countries affected by the war on Ukraine.
Premier Energy supplies gas to retail, industrial and commercial end-users in Romania. It also owns and operates the gas distribution networks in and around the capital Bucharest, the southern and the western region of the country, as well as smaller towns and villages in the northern part of Romania.