EBRD will likely grant 50million euros credit line to Banca Transilvania

European Bank for Reconstruction and Development will likely grant another 50 million euros to Banca Transilvania in an attempt to raise common capital, after the 100 million euros loan to borrow SMEs, said the Robert Rekkers, BT’s CEO.

“The final decision will be made by shareholders, nothing is set yet, but we have taken this possibility into account”, said Rekkers, at the press conference held by EBRD and Banca Transilvania, occasioned by the sealing of the loan agreement.

More than 7,500 current active SME clients stand to benefit from the new EBRD funds. Claudia Pendred, EBRD director for Romania, said total of the loans granted by the institution to Romania will be over 300 million euros in 2008, and the amount for 2009 will probably be even higher.

EBRD said it planned to boost investment volume in 2009, as a response to global economic crisis. The Bank aims to invest up to seven billion euros in 2009. The plan represents an increase of over one billion euros in investments in 2009, or nearly 20% above existing plans.

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