The European Investment Fund (EIF) and Libra Internet Bank have signed a guarantee agreement of over RON 30 M (EUR 7 M) aimed at supporting over 400 micro-enterprises in Romania. This agreement will allow Libra Internet Bank to provide enhanced access to finance to micro-entrepreneurs, in particular to young entrepreneurs in Romania, many of whom face difficulties in accessing credit from traditional banking sources, a press release informs. Progress Microfinance is funded by the European Commission and managed by the European Investment Fund. Libra Bank marks the 53rd transaction signed under Progress Microfinance since its inception in 2010.
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