The European Investment Bank (EIB) is providing two loans to finance smaller projects promoted by SMEs, mid-cap companies and public authorities in Romania:
- EUR 15 million Intesa Sanpaolo Bank Romania SA
- EUR 5 million to Intesa Sanpaolo Leasing România IFN S.A
20-10-2012 — /europawire.eu/ — The EIB loans will co-finance projects of SMEs and medium-sized companies in the areas of industry and services, including tourism, small and medium-scale infrastructure schemes promoted by local authorities and projects supporting the establishment of the knowledge economy and investments in the areas of energy, environmental protection, health and education. A minimum of 70% of the loans will be allocated to SME and mid-cap projects.
Mr Mihai Tanasescu, EIB Vice-President, commented: “The loans signed today will improve access to medium and long-term funds on advantageous financial terms. This will help to increase the productivity and competitive capacity of SMEs and mid-cap companies and facilitate the implementation of priority infrastructure projects”.
Ezio Salvai, General Manager (CEO) Intesa Sanpaolo Bank said: “Intesa Sanpaolo Bank is traditionally a partner for SMEs in the local market. In fact over 60% of the bank’s portfolio is represented by SME clients. In these conditions, it is natural for us to support the bank’s customers and the real economy with such concrete solutions like the strategic partnership with EIB. ”
These are the first EIB loans provided to Intesa Sanpaolo Bank and Intesa Sanpaolo Leasing in Romania adding further to the number of EIB partner financing institutions on-lending EIB funds in the country.
Since 1991, the EIB has provided loans in Romania totalling approx. EUR 9 billion. Of this some EUR 900 million, including the loans signed today, represent support for the implementation of smaller projects of SMEs, mid-cap companies and municipalities.