Romanian electricity distributor and supplier Electrica announced that it signed an agreement for a 36 million euros five-year loan with the European Bank for Reconstruction and Development (EBRD).
The loan agreement was signed through the distribution arm Distributie Energie Electrica Romania (DEER).
The money will be used to finance the support scheme set in place by the Government, the opportunities for business development, as well as the investment plans in the distribution network.
Electrica estimates to recover the cost of the support scheme (network losses incurred as a result of prices included in the transport tariffs lower than actual prices paid) by introducing it in the regulated tariffs over a five-year period.
Last October, the EBRD said that it is considering providing a loan worth 49 million euros to DEER.