The European Bank for Reconstruction and Development (EBRD) has extended a EUR 20 million loan to Crédit Agricole Romania, the local subsidiary of French group Crédit Agricole.

The lender will use the funds to finance local micro, small and medium-sized enterprises (MSMEs), a vital sector of Romania’s economy in terms of wealth and job creation.

The loan will also support Crédit Agricole Romania’s growth strategy and will help diversify the bank’s funding base, improving the currency and maturity structure of the balance sheet.

Crédit Agricole Romania was established in 2010, following the acquisition of Emporiki Bank, including its regional subsidiaries, by Group Crédit Agricole, the third largest banking group in Europe by assets.

The bank provides a broad range of products and services and mainly focuses on the SMEs active in the agribusiness segments.

(Photo: Shutterstock)

editor@romania-insider.com