1.3 C
March 9, 2021

EIB and BCR continue to support SMEs

The European Investment Bank (EIB) and Banca Comerciala Romania S.A. (BCR) signed a further EUR 50 M loan agreement to finance projects to be carried out by small and medium-sized enterprises (SMEs), midcap companies and public entities in Romania, according to a press release. The EIB loan will co-finance projects contributing towards regional development and the productivity of SMEs and midcap companies in Romania involved in industry and services. This loan is in line with the EIB’s priority to support Europe’s SMEs to help mitigate the effects of the financial crisis. Together with previously granted loans, the Bank has now provided EUR 300 M of support to BCR for the financing of priority projects. Wolfgang Schoiswohl, BCR Vice-President responsible for Corporate Banking stated: “(…) Our cooperation is further aimed at supporting the absorption of EU funds in Romania, as more than 75 pc of EIB funds are allocated to projects developed with EU financing.”

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