Brussels, 07/03/2013 (Agence Europe) - On 5 March, the European Investment Bank (EIB) and Banca Comerciala Romana S.A. (BCR) signed a new loan agreement worth €50 million to fund projects to be implemented by small and medium-sized enterprises (SMEs), mid-cap companies (with up to 3,000 employees) and public entities in Romania.
The EIB loan will co-finance projects in Romania contributing towards regional development in the productivity of SMEs and mid-cap companies in the industrial and services sectors. Energy efficiency investments carried out by SMEs will also receive grant support from the European Commission under the SME Finance Facility Energy Efficiency Window, which provides for cooperation between the EIB and the European Commission to reduce CO2 emissions in construction and industry. This loan responds to the priority adopted by the EIB to help to offset the effects of the financial crisis by supporting SMEs in Europe.
Last week, the EIB also signed an agreement with Banca March to finance projects carried out by SMEs and mid-caps involved in the industrial and service sectors and innovation projects, with a total envelope of €200 million. This EIB loan will also help to boost the productivity of the beneficiary firms by making them more competitive and will foster the rational use of energy and diversification of energy sources and promote private enterprise in the health and education sectors. Around 30% of the loan amount is intended for projects in convergence regions. (OL/transl.fl)