In Romania, people seeking business loans from the Banca Comerciala Romana, the country’s biggest commercial bank, are likely to face close questioning on the environmental impact of any project for which they need finance. The bank has 600 credit officers specially trained in environmental issues, thanks to a partnership with the International Finance Corporation.
In Hungary, Raiffeisen Bank has provided more than $7.5m in the past two years to improve buildings’ energy efficiency, thanks to a similar partnership.
Throughout eastern Europe, commercial banks are becoming more conscious of environmental concerns – in particular energy efficiency, which is notoriously poor in the ex-communist bloc. They are doing so in partnership with the IFC, and also under the influence of the European Bank for Reconstruction and Development, which has made energy efficiency a key consideration in providing financial help to businesses.
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