European Investment Bank has granted a credit facility of €50 million to Piraeus Bank Romania for addressing the permanent working capital increase needs of SMEs and financing small and medium-scale projects promoted by SMEs and municipalities, the bank said Wednesday.
The companies eligible for receiving the funds are those with a headcount of 250 and operate in industry, services, tourism, agriculture, health, energy, environment, and development of real economy.

“EIB has simplified its own procedures and broadened the eligibility criteria, thus addressing the SME’s constant needs for working capital and investments in productive movable assets”, the bank said in a release.

Greek-based financial group Piraeus Bank is focused on South-East Europe businesses, as well as world’s financial hubs such as London and New York. The bank’s chain includes 902 units in Greece, Albania, Romania, Bulgaria, Serbia, Egypt, New York, London and Ukraine.

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