Romanian bank BCR contracts EUR 80 mln EBRD loan to finance local SMEs

The European Bank for Reconstruction and Development (EBRD) has granted a EUR 80 million loan to Romanian bank BCR. The EBRD loan is specifically intended to allow BCR to lend to SMEs, according to BCR. The EBRD loan will be paid in two installments and using the financing line, BCR will provide SMEs with investment loans, credit facilities, working capital loans, finance leasing, factoring and other financial instruments, with particular emphasis on agriculture and agri-business. Corporate loans will be available in both Euro and USD. BCR aims to support local businesses still suffering in the wake of the global financial crisis. According to the bank, now that Romania is showing signs of economic recovery it is important that local businesses get the the financial support they need. editor@romania-insider.com