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Bucharest
May 22, 2022
BUSINESS

EximBank: We actively support expansion of companies on markets outside Europe

EximBank can offer companies special products, such as the guarantee of internationalization, products meant to support their expansion outside the country, even on markets that are riskier but that have a greater growth potential, EximBank President Ionut Costea stated during the 7th reunion of economic aides from the Ministry of Economy’s external representation network. “Our current activity offers us information on the dynamic of the business environment and I can tell you Romanian entrepreneurs show an enhanced interest in resuming or establishing new commercial contacts with partners outside the European Union. It’s a way through which dependence on European markets can be reduced and the negative effects of economic turbulences on businesses can likewise be minimized. That is why EximBank positions itself as a viable partner for companies interested in expanding their operations on markets outside Europe and we have examples of economic agents that are part of this trend,” Ionut Costea said. The bank official pointed out the interest that Romanian companies have for Africa, “an important market that our economy is yet to tap at its true potential.” “EximBank has started to identify the investment projects that will be implemented on the African continent and I want to tell you that there are projects – ranging from highways to cement plants – that have tens of billions of Euros in financing approved by international financial bodies such as the European Investments Bank or the International Bank for Reconstruction and Development. Moreover, EximBank is cooperating with the National Association of Exporters and Importers on setting up centres meant to promote economic relations in various regions, two such centres being opened so far, in the United States and in Senegal. I’m convinced that implementing these projects will draw an increasing number of companies from the area, and EximBank can put at their disposal efficient means of protection for their businesses,” Ionut Costea added. EximBank is a specialized institution whose product portfolio, centred on three directions – financing, guaranteeing, insuring, allows the bank to support the activity and development of exporters, SMEs and companies that implement projects in priority domains for economic development, particularly those that contribute to the absorption of European funds. The bank offers exporters a complex package of financial instruments that support both business development and the reduction of risks associated with this type of activity. Thus, EximBank supports export activity from production and delivery to cashing in the exported merchandise’s value through:credits (which cover the manufacturing or delivery costs)export guarantees (for general merchandise, for stimulating the realization of complex goals and products with long manufacturing cycles)insuring credits for export production, medium and long-term export credits, and buying creditcountry risk book – authored by EximBank analysts, the product offers data on 76 states (each country file contains the evaluation of the short, medium and long-term risk category, a description of the state’s internal and external political and economic situation, its outlook, as well as the situation of bilateral trade with Romania). Companies interested in EximBank products can directly contact the bank’s territorial branches in Bucharest, Bacau, Brasov, Constanta, Cluj, Craiova, Timisoara, Buzau, Oradea, Deva, Iasi and Sibiu. Economic agents can also find out more on www.eximbank.ro.

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