Romanian lender Banca Transilvania lent EUR 11 million this year to small and medium enterprises via the Joint European Resources for Micro to Medium Enterprises (JEREMIE) initiative.
Of the total amount, EUR 9 million were destined for investments, while the rest of EUR 2 million for working capital and business expansion, reports local Dailybusiness.ro. The partnership between Banca Transilvania and the European Investment Fund (EIF), under the JEREMIE initiative, was announced in the beginning of this year.
The average value of a loan granted to SMEs by Banca Transilvania was of EUR 230,000, and 45 SMEs already benefitted from JEREMIE-backed loans.
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