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EBRD might grant Romania's BCR loan to finance SMEs

The European Bank for Reconstruction and Development (EBRD) is considering a loan of 100 million euro to the most important Romanian lender, the Romanian Commercial Bank (BCR), to be lent by the BCR to small and medium enterprises in Romania, EBRD announced in a Monday release.

The loan might be granted to the BCR in one installment, to provide medium and long-term financing to private companies for production, investment, trade, services and working capital needs.

The loan project is pending final review on March 24. The EBRD considers that supporting the BCR will strengthen the banking system that has been hit by the financial crisis.

At the end of 2008, BCR's total micro and SME portfolio amounted to more than 2.6 billion euro, with a micro and SME market share of over 20 percent.

The EBRD is the largest institutional investor in Romania, with over 3.54 billion euro in 284 projects (by end-2007). In collaboration with its numerous partners, the bank has mobilized over 6.5 billion euro in projects conducted in Romania.

 

Sursa: http://www.rompress.ro

Tags: bcr euro

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