BCR, the Romanian subsidiary of Austrian Erste Group, inked EUR 50 million loan agreement with the European Investment Bank (EIB), to sustain SMEs, midcap companies and municipalities in Romania.
The EIB loan will be used to enhance the productivity and expand the regional presence of companies involved in the industry and services sectors.
SMEs that invest in energy efficiency will also receive an EU grant under the SME Finance Energy Efficiency Window, which aims to cut carbon emissions in construction and industry.
Wolfgang Schoiswohl, BCR vice-president in charge of Corporate Banking, said: “BCR’s agreements with EIB turn into loans to companies in the real economy. Together with EIB, BCR is providing accessible financing to help investments, enhance productivity and support employment for sustainable economic growth.”
“Our cooperation is further aimed at supporting the absorption of EU funds in Romania, as more than 75 percent of EIB funds are allocated to projects developed with EU financing.”
Mihai Tanasescu, EIB vice-president, stated the EIB funds foster the implementation of priority projects that develop the Romanian economy.
BCR said its co-financing of SME projects exceeded EUR 1 billion since 2000. The lender has taken out a total EUR 300 million in loans from EIB. Source: Business Review Roman