Financed ProjectsRalfi IFN S.A.

Identification Code:

OP/17/0077

Total Operation Cost:

7.000.000

Maturity:

12 months

Operation Status:

Description and Purpose of the Operation:

Ralfi IFN S.A.

Countries of Operation:

Romania (100,00 %)

Financial Product:

SME's

Sector:

Financial Institutions

Domain:

Private

Borrower/Client:

Short Term Revolving Energy Efficiency Facility to Ralfi

Co-Financiers/Participants:

N/A

Guarantors/Sponsors:

N/A

Developmental and Regional Cooperation Impact:

The Project is expected to have favorable economic benefits for the Romanian economy, the most relevant being potential future savings from less expenditure on energy and additional tax revenue gains and employment opportunities during the process of implementation of the project. However, in the long term it is likely that tax benefits might decline as less fuel will be consumed. Nevertheless, less consumption of fuels will likely have far more benefits to Romanian economy as it will free some energy resources for use in other sectors or for exports. The regional cooperation element is likely to be absent, unless some parts/materials to be used in the process are imported from the BSEC member countries.

Environmental Classification and Impact (summary):

The environmental assessment findings reveal that the Borrower has not instituted any environmental and social management system and does not have a qualified employee responsible for environmental, health and safety (EHS) issues that may arise from lending activities. Nevertheless, the Borrower also abides to an Exclusion List which is compliant to the BSTDB Negative List of Products and Services. Considering the nature of the consumer finance business, it can be concluded that the measures applied, though limited in terms of EHS, are adequate and in line with the minimum requirements stipulated in the BSTDB Environmental Policy and Environmental Assessment Procedures.

Operation Leader:

Financial Institutions I

E-mail:

fi1@bstdb.org