31 Martie 2009
EIB to handle talks with 8-9 banks in Romania for small-business lending
The European Investment Bank (EIB) plans to allot 1.5 billion euros to Romania, a third going to small and medium-sized companies, another third to the industry and the rest to infrastructure investments, excluding municipalities, NewsIn informs.
Last year EIB doled out 1.1 billion euros for investments in Romania, vice president Matthias Kollatz-Ahnen said.
The funds will be granted to lenders which will also chip in their share of money and thus resume lending to help companies. The main advantage of granting mixed loans is the reduced cost, Kollatz-Ahnen said.
Last week Romania inked an agreement with the International Monetary Fund, the World Bank (WB), the European Commission and the European Bank for Reconstruction and Development (EBRD) to get a 20-billion euro loan.
The main purpose of the loan is to prop up the economy hit by the economic downturn and help lenders resume the clogged lending.
Last month EBRD, EIB and WB started a joint lending program worth 24.5 billion euros to give a helping hand to banks and companies in the Central and Eastern Europe.
The funds will be granted to lenders which will also chip in their share of money and thus resume lending to help companies. The main advantage of granting mixed loans is the reduced cost, Kollatz-Ahnen said.
Last week Romania inked an agreement with the International Monetary Fund, the World Bank (WB), the European Commission and the European Bank for Reconstruction and Development (EBRD) to get a 20-billion euro loan.
The main purpose of the loan is to prop up the economy hit by the economic downturn and help lenders resume the clogged lending.
Last month EBRD, EIB and WB started a joint lending program worth 24.5 billion euros to give a helping hand to banks and companies in the Central and Eastern Europe.