EIB Lends Romanian BCR EUR75M To Fund SMEs

04.01.2011 By Andrei Circhelan

Romanian lender BCR on Friday said it has taken a EUR75 million loan from the European Investment Bank, to finance small- and medium-sized companies, as well as public sector authorities.

Romanian lender BCR on Friday said it has taken a EUR75 million loan from the European Investment Bank, to finance small- and medium-sized companies, as well as public sector authorities.

The EUR75 million loan represents the second installment in a EUR150 million loan granted in 2009 by the European Investment Bank to BCR, for SMEs.

The loan targets SMEs, small mid-caps and public sector authorities looking to develop projects in sectors such as industry, tourism, services and agriculture.

These clients would be able to apply for financing of up to EUR12.5 million for projects worth up to EUR25 million, the bank said.

The funds also refer to large mid-caps looking to finance up to 50% of eligible project expenditures amounting to a total greater than EUR25 million and up to EUR50 million, according to the news release.

BCR is currently the financial intermediary for two EIB facilities, namely an intermediated loan worth EUR50 million, contracted in 2006, and a loan for SMEs contracted in 2009, worth EUR75 million.

Since 1990, the EIB issued loans worth a total EUR8.2 billion in Romania, including EUR780 million supporting projects developed by SMEs.