BT Microfinance (BT Mic), a member of the financial group Banca Transilvania, is contracting a EUR 10 mln loan from the European Fund for South-Eastern Europe (EFSE) to finance small and medium-sized enterprises locally, Profit.ro reported.

At the beginning of 2020, the company received another EUR 7 mln loan from EFSE.

Founded in 2016, the company has so far supported over 10,000 entrepreneurs, becoming one of the main microfinance players in Romania. BT Microfinancing is controlled by Banca Transilvania - 67.8% and BT Investments - 32.2%.

The European Fund for South East Europe (EFSE) was set up in 2005 and aims to develop and support economic growth in South East Europe. EFSE was created by the KfW Development Bank with the financial support of the German Ministry of Economic Cooperation and Development (BMZ) and the European Commission.

(Photo: Henning Marquardt/ Dreamstime)

andrei@romania-insider.com