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April 1, 2023

Eximbank expands cooperation with Chambers of Commerce

In its effort to expand the cooperation with the Chambers of Commerce,EximBank has initiated a draft partnership based on the idea that both the bank andthese organisations have the main goal of supporting the business environment.

“The Romanian Chambers of Commerce are special partners for EximBank, giventheir representative character at national and local scale, and their permanent willingnessto cooperate in view of bringing extra value to their member companies. Asthese organisations are efficient information channels for entrepreneurs, we consideredworth expanding the cooperation with this regard. We believe that this projectwill allow beneficiaries to faster and easier receive information about how the bankmay support the development of companies,” said Ionut Costea, President ofEximBank.

In view of this project, EximBank will conclude partnership agreementswith 42 Chambers of Commerce, which will establish the joint action framework.More than half of these institutions have already expressed their readiness to cooperate,so far.EximBank is a specialised institution, with a threefold product portfolio -financing, guarantees and insurances – that allows the bank to assist the activity anddevelopment of exporter firms, of SMEs and of the companies involved in projectsfor key economic sectors, particularly of those that contribute to the absorption of EU funds.

The financing package of the bank includes both standard loans for current businessor investments, and specific products that work as state aid: loans at a subsidisedinterest rate and the partial rate offset that allows recovering up to 50 pc of the interestpaid for the RON-denominated investment credits taken from other banks.The state guarantees extended by EximBank are meant to support those companiesthat need loans, but lack enough collateral.

The state guarantees provided byEximBank take over a significant part of the crediting risk, so their use secures an easieraccess to financing. In its activity as insurer, EximBank covers the commercial andpolitical risks that may appear during international commercial transactions or whileimplementing investment projects run by Romanian companies abroad.Further information about EximBank products is available on www.eximbank.ro, orcan be obtained by sending an e-mail to informatii@eximbank.ro.

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