The European Investment Fund (EIF) has signed four agreements in Romania, by which it guarantees loans in amount to up to EUR 170 million to be extended by EIF’s local partners to students planning to attend Master programmes abroad and to small and medium-sized enterprises (SMEs) that are seen as too risky by banks.

Under the Erasmus+ programme, study loans in the amount of EUR 4.5 million will help 450 students study abroad -- meaning EUR 10,000 loans will be extended, on average.

Separately, the Investment Plan for Europe includes three SME Guarantee Agreements with CEC Bank (EUR 25 million), Deutsche Leasing Romania IFN (EUR 80 million) and Libra Internet Bank (EUR 63 million). The agreements signed with EIF will allow the three Romanian financial institutions to provide new loans worth about EUR 168 million to local SMEs.

editor@romania-insider.com

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