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August 4, 2021
BUSINESS

Raiffeisen Bank and EIF sign new agreement

The European Investment Fund (EIF) and Raiffeisen Bank signed a new funding treaty within the JEREMIE (Joint European Resources for Micro to Medium Enterprises) initiative, according to a press release. By virtue of the new partnership, Raiffeisen Bank will grant loans in the domestic currency on medium- and long-term to SMEs (according to the European definition), for working capital and investments, in a total amount of EUR 40 million under appealing conditions such as subsidized interest and low guarantee requirements.  Upon signing this agreement, Hubert Cottogni, EIF deputy director and head of Regional Business Development division, said that the new JEREMIE instrument of funding with subsidized interest, already successfully implemented by EIF in other states, joins the other JEREMIE opportunities for guarantees and risk capital which are already present in Romania. “Considering the success we have reported by now in running the programs developed in partnership with EIF, we trust that these funding solutions meet the SMEs financing needs and the challenges they face. Raiffeisen Bank will continue the strategy to increase the business volume on this segment in 2014, the above-mentioned agreement coming as a major step in this direction,” said Monica Udrescu, executive manager for SMEs division with Raiffeisen Bank.

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