News Column

EIB Increases Support For SMEs And Midcap Companies In Romania By EUR 50 Million

June 12, 2014

BRUSSELS, June 12 -- The European Investment Bank issued the following news release:

The European Investment Bank (EIB) is lending EUR 50 million to UniCredit Leasing Corporation, Romania, to finance projects promoted by small and medium-sized enterprises (SMEs) and midcap companies in the areas of agriculture, industry and services in Romania. A minimum of 70% of the loan is earmarked for supporting SME projects while midcaps and public sector authorities will receive some 30% of the loan amount.

EIB Vice-President Mihai Tanasescu said: "EIB funds will facilitate the access of Romanian SMEs and midcap companies active in the sectors of agriculture, industry and services in the country. The improved availability of long-term finance for these companies is important for the development and diversification of the Romanian economy and will have positive impacts on economic growth and job creation across the country, including rural areas."

Part of the loan will be combined with the SME Finance Facility, which is a joint scheme of the EIB and the European Commission that blends EIB loans with Commission grants to improve SME lending capacity and infrastructure.

This loan represents a continuation of the successful cooperation between the EIB and UniCredit Leasing Corporation, Romania. The previously granted EIB loan of EUR 50 million has been used in full for the benefit of SME and midcap projects.

TNS 30FurigayJane-140611-4765840 30FurigayJane

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Source: Targeted News Service

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