BUSINESS

EximBank – Euro 31 mil. facilities for 15 EU funded investment projects

EximBank is considering granting facilities amounting to almost euro 31 million for a package of 15 investment projects to be implemented by means of EU funds through the Payment Agency for Rural and Fishing Development (APDRP), Measure 121 – Farming management upgrade. “We are confident that all 15 projects shall reach the implementation stage hence enabling EximBank to contribute to the application of the general target of Measure 121: due to the support granted to entrepreneurs of the kind, competitive farms will be set up, designed by EU standards,”stated Ionut Costea, president of EximBank.EximBank places at the disposal of companies and public authorities with projects relying on structural funds a mix including co-financing and pre-financing loans as well as comfort and non-committal letters or guarantees.To draw such information closer to the targeted public EximBank concluded several partnership agreements with the Management Authorities and participated in various informing events such as regional conventions or seminars. The entrepreneurs were thus given access to information on the financing and guarantee solutions available from EximBank for those companies willing to capitalize on EU funds.According to the project type, EximBank can grant investment loans meant to co-finance the constituent which stands for company’s own contribution. By means of such product a company having concluded a financing agreement with the management authority is granted 100% of the value of expenses both eligible and non-eligible related to its own contribution.Likewise, the Bank also extends credits pre-financing the demands of companies thus covering for the lag occurred between the time of payments to suppliers within the project and the time of collection from the management authority. Therefore, cover is ensured up to 100% of the EU amount obtained.The package also encompasses comfort letters through which the bank expresses its willingness to place at company’s disposal those funds required to help the project provided the latter has been agreed with the management authority. Moreover, EximBank may guarantee all credits engaged by the companies with other commercial banks in order to implement projects relying on structural funds.

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