Nearly one-sixth, or 15%, of the banking assets in Romania are loans guaranteed by the mutual insurance fund FNGCIMM.

The fund boosted its activity after the Government appointed it as a vehicle for extending guarantees to microenterprises, small and medium enterprises, as well as to farms under a dedicated project.

"At the moment, according to the latest data, about 15% of bank assets are 'held' [guaranteed] by us. And we are speaking of only a year of activity because, as you well know, until January 2020, FNGCIMM carried very limited activity, related to the Prima Casa program carried on by Government for people seeking to by a housing unit," explained FNGCIMM president Cristian Nancu, quoted by Ziarul Financiar. 

andrei@romania-insider.com

(Photo source: Dreamstime.com)