Loading ...The Romanian Commercial Bank (BCR) and the European Bank for Reconstruction and Development (EBRD) have signed on Monday a loan agreement, according to which the international financial institution makes available 100 million euros in the aim to strengthen real economy financing.
As such, EBRD boosts its support for the Romanian economy with a credit line of 100 million euros granted to BCR with the objective to offer lending to small and medium-sized enterprises.
As such, EBRD boosts its support for the Romanian economy with a credit line of 100 million euros granted to BCR with the objective to offer lending to small and medium-sized enterprises.
This investment further reflects EBRD commitment to react in the difficult economic context, the countries it operates in are confronted with and follows in the footsteps of a similar loan aimed at sustaining the small enterprises sector in Romania, granted in December 2008.
"EBRD has a long tradition of cooperation with BCR. This loan represents an important step to further finance the private sector of small and medium-sized enterprises in Romania. As well, the loan is part of our reaction in crisis situations and is part of the efforts coordinated with the other international financial institutions, with the objective to stimulate the Romanian economy in the context of these exceptional global circumstances", stated Varel Freeman, prime vice -president of EBRD.
"Our aim is to further back SMEs sector with loans. BCR secures financing of all good businesses, viable on long term. This transaction will consolidate and diversify our attracted resources basis. BCR is an important long-term partner of EBRD in Romania, to the benefit of Romanian companies and economy", said BCR executive president Dominic Bruynseels.
EBRD is to increase investments in Romania by another 500 million euros to one billion euros in the following two years, in the framework of an international financial package of 20 billion euros. Approximately half of this amount will be destined to the financial sector and the remainder invested in the economy, including in corporate, energy and energy efficiency sectors, as well as in the national and municipal infrastructure.
At the same time, BCR holds talks with another international financial institutions on added possibilities of supporting real economy financing and mainly the SMEs sector.
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