UniCredit Bank takes EUR 50 mln loan from EIB to finance SMEs in Romania

UniCredit Bank has taken a EUR 50 million loan from the European Investment Bank (EIB). This is the first financing EIB has granted so far to a Romanian bank through the European Fund for Strategic Investment (EFSI) as part of the Juncker plan. UniCredit Bank will use the loan to finance innovative or riskier projects by SMEs, Mid-Caps, start-ups and companies promoting employment in general and jobs for the young people in particular. “The European Investment Bank activity in Romania is gaining traction. We are very happy to team up with UniCredit Bank, a long-standing local partner of the EIB Group, in our strong commitment for the growth of the local economy under the framework of the “Juncker Plan”. That comes on top of our traditional financing activities and will give an additional boost to job-creation in this important EU country, by providing long-term, affordable financing to innovative SMEs and start-ups,” said EIB Vice-President Andrew McDowell. Romanian SMEs account for 99.7% of enterprises in Romania and provide about two thirds of employment - roughly 2.6 million people. SMEs in Romania bring about 50% of the total value added to the economy, namely EUR 29.8 billion, according to EC findings. editor@romania-insider.com