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April 20, 2021

Special EU funds dedicated structure on EximBank website

Information on the bank’s financing offer and general information on applying for EU funds

EximBank has developed a dedicated section on its website to EU funds, designed to provide companies and public authorities with the information they need in order to attract EU money.

‘Studies have shown that, at an initial information-gathering phase, prospective EU funding applicants primarily try to get the information they need on the Internet. With consideration to that, as well as to the fact that assisting companies implementing projects with European money is one of EximBank’s priorities, we have re-thought the structure of our website’, EximBank official said.

According to them, companies and public administrations implementing projects funded with EU money may contact any EximBank branches for customized consulting in order to identify the most appropriate financing solutions for each particular project.

The ‘EU Funds’ section on www.eximbank.ro contains a description of the bank’s financing supply addressed to companies implementing projects sing EU funds and givers the entrepreneurs general information provided by the Structural Instruments Co-ordinating Authority of the Ministry of Public Finance, such as: the steps that need to be followed in the preparation of a financing application, what a financing application must contain, what are the phases of financing and so forth.

The suite of products EximBank has created to support companies and public authorities developing projects financed from structural funds includes co-financing and pre-financing loans, non-binding letters of intent or guarantees. According to the type of project financed from structural funds, EximBank can offer the following products:

Investment credit for the co-financing of the component representing the company’s own contribution to the project financed with EU funds. Thanks to this particular bank product, a company having concluded an agreement with the management authority may borrow 100 per cent of the value of eligible and non-eligible expenses which constitute its own contribution to the project.

Credit for the pre-financing of a company’s need to cover the time gap between the payment of invoices to suppliers within the project and the time of receiving the money from the management authority. Such loans may provide up to 100 per cent of the value of the obtained European financing and have 2-year maximum maturity.

Comfort letters, which may be a compulsory part of the paperwork required when applying for non-repayable funding. Through such instruments, the bank expresses an intention of releasing the funds the company would need to implement the project if the project is accepted by the relevant management authority.

Guarantees – Eximbank can secure loans taken out with commercial banks for the implementation of projects using structural funds.

The Export-Import Bank of Romania EximBank S.A. is a specialized institution conducting activities in support of the Romanian business environment and of foreign trade. EximBank provides financing, co-financing, re-financing, insurance, re-insurance, guarantees designed to contribute to the development of infrastructure or of utilities of public interest, to regional development, to support research and development work and environmental projects.

The bank has a total of 11 branches in Romania: Bucharest, Bacau, Brasov, Constanta, Cluj, Craiova, Timisoara, Buzau, Oradea, Deva and Alba Iulia. Economic operators can find more information on the bank’s products and documents at www.eximbank.ro or can e-mail inquiries to: informatii@eximbank.ro.

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