EBRD approves credit line for National Bank of Greece, EUR 100 million for Banca Romaneasca

The European Bank for Reconstruction and Development (EBRD) has approved three credit lines worth a total of EUR 350 million for the National Bank of Greece's subsidiaries in Bulgaria, Romania and Serbia. The Romanian subsidiary, Banca Romaneasca, will get EUR 100 million in funding to support lending in the country. The financing program will be offered in two tranches, part of the Join Action Plan of the International Financial Institutions and follows similar facilities offered to Western European banks active in the region. The EBRD, the World Bank and the European Investment Bank have pledged to offer EUR 24.5 billion until 2011 to support the Eastern European economies through the banking sector. editor@romania-insider.com