EIB EUR 50 M loan to UniCredit Leasing for SMEs

The European Investment Bank (EIB) is lending EUR 50 million to UniCredit Leasing Corporation, Romania, to finance projects promoted by small and medium-sized enterprises (SMEs) and midcap companies in the areas of agriculture, industry and services in Romania, a press release informs. A minimum of 70 percent of the loan is earmarked for supporting SME projects while midcaps and public sector authorities will receive some 30 percent of the loan amount.  EIB Vice-President Mihai Tanasescu said: “EIB funds will facilitate the access of Romanian SMEs and midcap companies active in the sectors of agriculture, industry and services in the country. The improved availability of long-term finance for these companies is important for the development and diversification of the Romanian economy and will have positive impacts on economic growth and job creation across the country, including rural areas.” Part of the loan will be combined with the SME Finance Facility, which is a joint scheme of the EIB and the European Commission that blends EIB loans with Commission grants to improve SME lending capacity and infrastructure.  This loan represents a continuation of the successful cooperation between the EIB and UniCredit Leasing Corporation, Romania. The previously granted EIB loan of EUR 50 million has been used in full for the benefit of SME and midcap projects.

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