Raiffeisen Romania lends EUR 0.4 mln to major Romanian shirt maker

The Romanian shirt manufacturer Braiconf received financing of EUR 400,000 from Raiffeisen Bank, guaranteed by EximBank, under the state aid scheme COVID-19, dedicated to large companies.

The funds will be used to cover the company's payments to suppliers, salaries, taxes to the state budget, and social insurance.

"This financing package supports us at a very important time for the company and will be used for our business in optimal conditions. We have ambitious plans, through which we want to bring the Bariconf brand in the 21st century, in a sector such as the textile industry, in the extraordinary conditions we live in. We went through a year full of challenges, and one of our biggest concerns was the security of human resources and, at the same time, the implementation of the new strategy on several business segments, from the retail component to the product line 100 % Romanian," said Silviu Dumitrache, President of Braiconf.

The factory in Brăila has a history of 70 years and an annual production of over 800,000 shirts for brands such as Braiconf, Eton, Porsche, Cartier, Harmont & Blane, Hermes, Kenzo, and LVMH.

(Photo source: the company)