The European Bank for Reconstruction and Development EBRD recently implemented in Romania the ‘Local enterprise facility’ (LEF) program. Under this program, the bank is ready to invest EUR 3-4 million as capital in small and medium enterprises (SMEs) or to give them loans amounting to EUR 5-6 million, reports local Mediafax.

James Hyslop, director for Romania within the EBRD, said that the bank, which is also working with investment funds, is willing to invest “up to EUR 10 million” in Romanian Foundations SME Fund, an investment fund that supports the SME sector in Romania.

He also stated that from EBRD’s point of view, “the SMEs remain the central point of the Romanian economy”.

Irina Popescu, irina.popescu@romania-insider.com