The credit line is designed to fund companies with maximum 249 employees, turnover below 50 million euros and assets worth below 43 million euros. The sub-loans granted by companies within this credit line cannot be higher than 1.5 million euros.
“Our purpose is to provide funding support to SMEs, and BCR is financing all viable business on a long term. The transaction will both consolidate and diversify the basis of drawn resources. BCR is a major long-term partner of EBRD in Romania”, said the CEO of BCR, Dominic Bruynseels.
The credit line granted to Banca Comerciala Romana is similar to EBRD’s 100mln-euro funding support for Banca Transilvania provided by the European institution in December 2008 acted to boost small business lending.
“The loan is a major step in continuing the funding of Romanian SME sector. The credit line granted to BCR is part of our response to crisis and of our combined efforts to stimulate Romanian economy alongside other international financial institutions”, said the first vicepresident of EBRD, Varel Freeman.
EBRD will increase its investments in Romania by an additional 500 million euros to 1 bln euro over the next two years in financial sector, and the remaining half in corporate, energy and energy efficiency and national and municipal infrastructure sectors.
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