Romania, EBRD to provide 30 million euros loan to Premier Energy

, SEE Energy News

The European Bank for Reconstruction and Development (EBRD) said that it is considering providing a working capital revolving loan of up to 30 million euros to Romanian gas distributor and supplier Premier Energy.

The statement from the bank said that the loan will enable Premier Energy to finance the increased value of gas contracts caused by the gas price surge triggered by the Russian invasion of Ukraine.

The loan will be provided under the EBRD’s Resilience and Livelihoods Framework, one of whose focus areas is energy security in Ukraine and affected countries. The project’s objective is to finance the working capital needs of the company in order to ensure the uninterrupted provision of vital energy services ahead of the upcoming heating season.

The project will also provide an emergency facility to prevent gas supply disruptions and maintain a reliable supply of vital energy services in advance of the main heating season in Romania.