EIB and BCR support SMEs, midcaps and municipalities

The EIB loan will co-finance projects contributing towards regional development and the productivity of SMEs and midcap companies in Romania involved in industry and services. Energy efficiency investments carried out by SMEs will also receive grant support from the European Commission (EC) under the SME Finance Facility Energy Efficiency Window, which provides for cooperation between the EIB and the EC to reduce CO2 emissions in construction and industry.
“EIB funds will improve access to long-term finance for SMEs, midcap companies and municipalities. This will help to strengthen Romania’s competitiveness, as these companies form the backbone of the country’s economy, create a significant amount of employment, particularly new job opportunities, and generate a substantial proportion of GDP,” said Plutarchos Sakellaris, EIB Vice-President responsible for Romania.
In turn, Wolfgang Schoiswohl, BCR Vice-President responsible for Corporate Banking, said: “BCR's agreements with EIB turn into loans for the real economy. Out of EIB sources BCR has financed companies in sectors such as agriculture, production, tourism or transportation. Together with EIB, BCR is providing accessible financing to help kick-off investments, enhance productivity and support employment in a challenging economic environment. Our successful cooperation is further supporting the absorption of EU funds in Romania, considering more than 75% of EIB funds are allocated to projects developed with EU financing.” Since 2000, BCR has been involved in supporting Romanian SMEs develop viable projects through competitive financing schemes, together with international partners. BCR has financed so far over 10,000 such projects, for which the total co-financing value surpasses one billion Euro.