EBRD boosts financing for SMEs in Romania

According to the EBRD, the loan, extended under the EU/EBRD SME Finance Facility, will support continuing lending to the private SME sector in Romania during a period of restricted access to finance. The credit line will be complemented by EU grants, including technical assistance funds to support the implementation of the Facility and SME outreach.
“This transaction will bring more financing to small and medium-sized businesses in Romania, supporting their development at a time when access to finance remains limited. The EBRD credit line will boost competition in the banking sector and help encourage new lending activities,” EBRD Director for Financial Institutions, Jean-Marc Peterschmitt said.
In turn, Jose Toscano, CEO of Millennium Bank Romania, said: “The agreement with the EBRD is of strategic importance for Millennium Bank Romania. This loan facility provides us with an additional source of funding to offer to our clients and confirms our commitment to support the development of the Romanian SMEs lending.”
Majority-owned by Banco Comercial Portugues, Millennium Bank Romania is a universal bank providing a full range of services to retail and corporate customers. Since its establishment as a greenfield operation in 2007, Millennium Bank Romania has developed well and has expanded its branch network throughout the country to reach 74 units.