Ioannis Tsakiris

The European Investment Bank (EIB) is lending Distributie Energie Electrica Romania (DEER), the distribution operator within the Electrica Group, €200 million to upgrade its electricity distribution network covering 40% of Romania and serving approximately 4 million households and businesses. The loan, which can be disbursed in euro or lei, will support DEER in better serving its customers, improve energy efficiency, and facilitate the connection of renewable energy sources.

The European Investment Bank (EIB) will lend €120 million to Danish hearing-aid innovator Demant A/S in support of its investments in research, development and innovation (RDI) for new devices that can improve the quality of life for people suffering from hearing loss. Demant will use the EIB financing for its ongoing development of next generation hearing aids, building on its previous RDI programmes that were also co-financed by the EIB. This is the fifth such EIB financing to Demant since 2015, with the EIB having made available €455 million to advance the company’s innovation programmes.

The European Investment Bank (EIB) is lending €70 million to a unit of Romanian bank BRD Groupe Société Générale to increase financing for a range of businesses in the country. The EIB loan to BRD Sogelease IFN SA is meant to benefit Romanian small and medium-sized enterprises (SMEs) and Mid-Caps.