BCR has signed with the EIB a new Loan for SME financing amounting to EUR 75 millions

"BCR has been, over the year a main partner for many of EIB projects in Romania. These projects were beneficial for both Romanian companies and the Romanian economy as a whole. BCR is constantly focusing on financing SMEs as over 40% of the Romanian SMEs are banking with BCR, which is the leader on this market segment", stated Ramona Ivan, executive director of BCR's Financial Institutions Division.

SMEs which are developing projects in the fields of activity as industry, tourism, services and agriculture, could apply for an EIB financing with the maximum value of the loan of EUR 12.5 million, the total cost of each eligible project not exceeding EUR 25 million.

BCR is also benefiting from a Intermediated Loan from EIB contracted in November 2006, amounting to EUR 50 million, used for financing over 90 projects developed by small and middle sized enterprises in Romania, mainly in the fields of agriculture, animal farming and food industry, production industry, tourism and services. The biggest projects have benefited from up to EUR 5m loans, with an average loan value of about EUR 550,000. Over 75% of EIB funds were allocated to BCR clients who developed projects with European Funds within three national programs: The National Program for Rural Development (PNDR), SOP Increase of Economic Competitiveness and Regional Operational Program- 4.3 Micro Enterprises Support.

"BCR's collaboration with the EIB has proved to be a successful one, as the conditions of the EIB-BCR loans are turned into instruments really supporting the sustainable development of SMEs in Romania" added Ramona Ivan.

Since 2000, BCR has been involved in supporting Romanian SMEs for developing viable projects, by identifying competitive financing schemes, together with international partners such as the EIB, EBRD, IFC etc., over 9,500 such projects having been financed so far.

The main mission of the European Investment Bank (EIB), the European Union's bank, is to contribute to the integration, balanced development and economic and social cohesion of the EU Member States by financing sound investment. Through its credit lines to financial institutions, the EIB funds projects usually implemented by SMEs (with fewer than 250 employees) and by mid-cap companies or municipalities. To increase the access of SMEs to long-term financing, the EIB closely cooperates with local financial institutions that have local market expertise, particularly in providing services to businesses through a well-developed network. Since 1990, the EIB has signed loan contracts in Romania amounting to some EUR 7.8 billion, of which some EUR 780 million has supported SME and municipality projects, including the current loan".

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BCR, a member of the Erste Group, is a universal bank dedicated to both retail and corporate customers. BCR is the leading banking organization in Romania, managing assets worth of more than EUR 17.2 billion. BCR is the most valuable Romanian financial services brand. The bank is offering a full range of banking services having 661 retail branches and agencies (for individuals and micro corporations) located in most of the Romanian cities with a population of more than 10,000 inhabitants. The corporate customers are serviced in 50 corporate commercial centres dedicated exclusively to SMEs and big companies. The bank provides to both retail and corporate customers a complex offer of banking products and services, including Internet banking, phone banking and e-commerce services. BCR issues 25 types of debit and credit card, and is the owner of the largest national ATM and POS network - over 2,000 machines and over 17.000 electronic terminals operational at the merchants, for card payments. BCR is currently the most important financial Group in Romania, with operations both in Romania and abroad developed by its local branches, foreign banking subsidiaries and representative offices. BCR is also holding top positions on the financial market segments for leasing, asset management, housing bank, equity and pension funds supported by its domestic subsidiaries.

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