OTP Bank Romania announces the partnership with the governmental program Femeia (Woman) Manager 2022-2027, implemented through the Ministry of Entrepreneurship and Tourism.
The program provides for a non-reimbursable financial aid from the state up to a maximum of 200,000 lei, which can represent a maximum of 95% of the eligible expenses (including VAT for non-paying companies) related to the project.
The SMEs will be able to obtain non-reimbursable funds of up to 200,000 lei under this program, the main eligibility criterion being that at least one of the partners must be a woman and hold at least 50% of the company’s social parts/ shares.
After the project is evaluated and selected for state funding, OTP Bank Romania offers applicants the possibility to apply for a bridge financing of 100% of the grant, which can be guaranteed up to 80% of the loan amount by FNGCIMM/ other guarantee funds, as appropriate.
“I am glad that the local business environment has visibly advanced in terms of gender diversity and the number of women entrepreneurs. Today, about 40% of the shareholders in local companies are women. However, we still have a long way to go in promoting women in management positions. For OTP Bank, this is a very important aspect, which is why we have run many initiatives to combat gender stereotypes, such as the GirlPower mentoring program. Thus, the decision to join the Femeia Manager program came naturally, because is perfectly aligned with OTP Bank’s values. Through this partnership, we want to actively participate in the development of small and medium-sized companies and support the evolution of the female entrepreneurial environment in Romania”, said Roxana Hidan, Deputy General Manager Business Division, OTP Bank Romania.
The estimated budget for the period 2022-2027 is 1,000,000,000 lei. By the end of the year, 785 companies are expected to benefit of this program.