Local lender ProCredit Bank has granted small and medium-sized enterprises (SMEs) total loans of EUR 20 million since December 2013.

By the end of 2015, the bank will award extra loans of EUR 12 million.

SMEs can access these credits under the Joint European Resources for Micro to Medium Enterprises (JEREMIE) program to finance investments and their current activities in the short and medium term. The interest for these loans is half compared to the standard level.

This type of financing benefits from lower interest and commissions, as well as lower guarantees, as they are backed by a program co-financed with EU funds.

ProCredit Bank and the European Investment Fund closed a second deal in October last year, as part of EU’s program for Competitiveness and Innovation.

editor@romania-insider.com