Small and medium companies in Romania receive new state financing

The Government has released EUR 4.4 million in June to finance programs which support small and medium-sized companies (SMEs). The amount represents the fourth tranche of funds the Government has released for SMEs financing this year. The total sums allotted in the state budget for SMEs are over EUR 37 million. The small and medium firms will also be able to attract EUR 100 million financing for investments and work capital, with subsidized interest rates and reduced guarantees from five banks, after Romania supplemented by EUR 50 million the resources for the JEREMIE program. JEREMIE is a joint initiative developed by the European Commission in co-operation with the European Investment Bank Group and other financial institutions to support SMEs. The EUR 50 million add to the existing budget of the five banks which take part, namely Banca Transilvania, BRD Groupe Societe Generale, CEC Bank, ProCredit Bank and Raiffeisen Bank. editor@romania-insider.com