EIB supports Romanian SMEs projects

The European Investment Bank (EIB) and the Romanian Commercial Bank have signed a loan agreement worth EUR 50 Million for the financing of projects implemented by small and medium companies and public entities in Romania.

The EIB loan will co-finance projects for boosting regional development and the productivity of the Romanian SMEs and medium capitalisation companies in industry and services. SMEs energy efficiency investments will also receive non-reimbursable support from the European Commission within the SMEs Financing Facility, the energy efficiency section which considers the cooperation between the EIB and EC for reducing Cos emissions generated by industry and constructions.

“EIB funds will facilitate long-term financing access for SMEs, medium capitalisation companies and local authorities. This will help boost Romania’s competitiveness as the respective companies represent the backbone of the country’s economy, create a significant number of jobs, especially new jobs and ensure a significant percentage of the GDP”, declared Plutarchos Sakellaris, EIB Vice President responsible for Romania.

This loan is part of EIB’s priority of supporting the SMEs in Europe to help damp the effects of the financial crisis. For this purpose, the EIB joins forces with traditional financial institutions, such as BCR, who know the local market and have as customers SMEs, medium capitalisation companies and public entities.

Source: www.eib.org

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