The European Investment Bank (EIB), through four local partner banks, plans to extend EUR 190 million loans to Romanian companies in the sectors most impacted by the economic, social, and health impact of the COVID-19 pandemic: manufacturing, commerce, agriculture, tourism, and transport.

CEC Bank, Intesa Sanpaolo Bank Romania, Unicredit Bank, and BRD Sogelease are EIB's local partners.

The program is available immediately, and companies can apply through branches of the partner institutions across the country.

"I welcome this significant new initiative that will provide targeted financial support to companies across the country in cooperation with leading financial institutions. The new scheme is better and more flexible. It allows working capital expenses, including payment of salaries, social security, and tax, without a minimum maturity requirement, to help mitigate the economic impact of COVID-19," said finance minister Florin Citu, who also serves as a Governor of the European Investment Bank.

"In the coming weeks our Romanian partners CEC Bank, Intesa Sanpaolo Bank Romania, Unicredit, and Sogelease will outline how companies can access new working capital, business investment, and leasing finance, and cover salary, tax, and social security costs," added Christian Kettel Thomsen, European Investment Bank Vice President.

andrei@romania-insider.com

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