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February 28, 2021

Over 12 billion lei accessed through the IMM invest programme, 51 pct of the amount granted for investment

Companies accessed loans worth 12.047 billion lei through the IMM Invest programme, with 51 pct of the amount granted for investment, i.e. 6.144 billion lei, said Dumitru Nancu, Managing Director of the National Credit Guarantee Fund for Small and Medium Enterprises (FNGCIMM), in an interview with AGERPRES.

(1 euro = rd 4.84 lei)

He stated that of the 21 banks enrolled in the programme, 12 have already requested an increase in the ceiling.

Nancu asserted that the National Investment and Economic Recovery Plan is an unprecedented investment plan that aims to replace subsidy with incentive measures. This is exactly what the Romanian economy needs, a visionary plan to rebuild and stimulate the competitiveness of the economy, based on investments that lead to prosperity and consumption, he added.

FNGCIMM opened on Thursday, 27 August 2020, the new government IMM Leasing programme for equipment and machinery with zero financing advance. The maximum amount of financing is 5 million lei per beneficiary and is intended to stimulate access to leasing-type financing for the purchase of new or second-hand assets to carry out the activity of companies, especially those in need of technology transfer into their production processes, and ensuring the necessary financial flows through specific sell-and-lease-back operations.

Dumitru Nancu said that as far as IMM Invest is concerned, the figures indeed confirm that it is the most successful state guarantee financing programme in Romanian history. The balance of loans granted by the entire banking system to the SME sector to companies has increased in the last 12 years by 40 billion lei, from 77 billion lei in 2007 to 117 billion lei in 2019, the average monthly increase being 300 million lei. No less than 12.047 billion lei have been granted in about four months through the IMM Invest instruments, which means an increase by more than 40 times, he stressed.

The New Home programme preserves the spirit of the First Home programme, but adds some supplementary provisions which allow the purchase of more spacious and more expensive dwellings. The New Home programme is a continuation and a natural adaptation of the First Home programme to the present, and its success will be directly proportional to the desire and possibilities of the future beneficiaries.

At the moment the guarantee ceiling available under the New Home Programme is 1.6 billion of the 2.1 billion lei allocated for 2020, the remaining 500 million lei having been used up until 6 March 2020 for the First Home programme, Nancu said.

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