Patria Bank secures EUR 25 mln loan from European Investment Bank

Romanian lender Patria Bank (BVB: PBK) has secured a EUR 25 million loan from the European Investment Bank (EIB) under the Multiple Beneficiary Intermediated Loan (MBIL) program.

This initial tranche is part of a total of EUR 50 million approved by EIB to support small and medium-sized enterprises (SMEs) and mid-cap companies in Romania, with a focus on climate-related projects.

The funding aims to enhance Patria Bank's ability to provide diverse financial solutions, particularly in renewable energy and energy efficiency sectors. Projects include solar and wind energy, low-carbon vehicle fleets, and energy storage systems.

Valentin Vancea, CEO of Patria Bank, stated: "This strategic partnership with the European Investment Bank enables us to support Romanian entrepreneurs and foster sustainable business practices."

Controlled by EEAF Financial Services, Patria Bank had total assets of RON 4.2 billion (EUR 845 mln) at the end of March 2024. The bank has a market capitalization of RON 269 mln (EUR 54 mln).

(Photo source: Patria Bank)