Loading ...Thus, the SMEs that choose to develop projects in activity fields such as industry, tourism, services and agriculture can apply for EIB financing; the maximum loan available under the arrangement is 12.5 million euros and the total cost of each eligible project is 25 million euros.
BCR also benefits from a EUR 50 million credit line granted by the EIB in November 2006 for the financing of over 90 projects developed by Romanian small and medium-sized enterprises, particularly in agriculture, livestock breeding, the food industry, the processing industry, tourism and services.
The most extensive projects received loans of up to five million euros, whereas the average loan was 550,000 euros. Over 75 percent of EIB funds were assigned to BCR customers who developed projects with European funding, under three national programs: the National Rural Development Program (PNDR), the Sectoral Operational Program “Increasing Economic Competitiveness’ and the Regional Operational Program – 4.3 ‘Supporting the development of micro- enterprises.’
“Right from the beginning, BCR has been the main partner of EIB in many financial projects implemented by the latter in Romania. The projects come both in support of Romanian companies and of the entire national economy. BCR handles with constant attention the funding of small and medium-sized enterprises. BCR is a leader on this market segment too, with over 40 percent of Romanian SMEs being the institution’s customers,” said Ramona Ivan, Executive Director of the BCR Financial Institutions Division.
Since 1990 the EIB disbursed 7.8 billion euros in loans to Romania, of which about 780 million euros – the current loan included – were used to support projects of SMEs and municipalities. BCR, an Erste Group member, is a universal bank that services both retail and corporate clients. BCR is the most important banking institution in Romania, managing assets worth over 17.2 billion euros.
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