Ionut Costea, EximBank: We have funds and we are open to support entrepreneurial projects

EximBank has enough funding and we are open to finance or guarantee commercial enterprise projects, with project feasibility being the only condition for our support to become reality, said EximBank President Ionut Costea at a Craiova meeting with Dolj entrepreneurs.

He also said that, while many banks have lowered their exposure lately, EximBank managed to grow boosting activity by shortening the time for processing files and internal reorganization.

“For example, EximBank activity in the state’s name and account in late June 2010 was almost three times larger than that recorded on June 30, 2009. There is much more work left to be done, for sure, yet, we are convinced direct meetings with business environment representatives is the only means by which we can make our products known and adapt to the new market conditions,” Ionut Costea also said.

The meeting in Craiova was attended by nearly 100 representatives of the companies and commercial banks in the region, as well as officials with the Dolj County Council, the Dolj branch of the National Bank of Romania and the Dolj Chamber of Commerce and Industry.

The meeting with Dolj entrepreneurs is part of a project EximBank started in partnership with the Romanian Banking Institute (IBR) and the National Association of Romanian Exporters and Importers (ANEIR), which consists in meetings with business people across the country, aimed at presenting the means whereby the bank can support the development or activity of local companies.

During the meeting, EximBank officials mentioned that the product portfolio, centred on three lines of actions – financing, guarantee and insurance, allows the bank to support the activity and development of exporters, small and medium enterprises (SMEs) and of the companies carrying out projects in priority economic development areas, mainly those contributing to the absorption of European funds.

The bank’s financing package may include both standard credits for current activity or investments and specific state assistance-type products: subsidized interest loans and those with partially compensated interest allowing borrowers to recoup up to 50 per cent of the interest on RON investment bank loans.
The EximBank offers state guarantees to companies that need to take out loans yet have insufficient collateral. The guarantees provided by EximBank take over a significant portion of the credit risk, which in turn allows easier access to financing.

As to insurance, EximBank covers commercial and political risks that may appear during international commercial transactions or the implementation by Romanian companies of investment projects abroad.
The companies interested in EximBank products can directly contact bank branches in Bucharest, Bacau, Brasov, Constanta, Cluj, Craiova, Timisoara, Buzau, Oradea, Deva and Iasi. Also, economic operators can obtain information about the products and the necessary documentation at the website or receive details emailing to

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