BCR signs agreement with EBRD on financing SMEs

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Romanian Commercial Bank (BCR) has concluded an agreement with the European Bank for Reconstruction and Development worth 20 million euros, so as to support the competition of SMEs in Romania, BCR spokesperson Corneliu Cojocaru said in a release on May 21.
 
The financing facility is to be developed with the support of the European Commission and the European Government and with the support also from the Ministry of Development, Public Works and Housing.
 
"BCR was and continues to be the main partner of the SMEs in Romania. We reiterate thus through the new financing programme our constant support to SMEs to help them adapt more quickly to such exigencies on the European market," Ramona Ivan, executive manager with the BCR’s Department for Financial Institutions said.
 
The facility is thus to be accessed by such small and medium-sized enterprises engaged in investment and restructuring projects meant to consolidate their operational capacity on the single European market and to help them meet such criteria of eligibility established by the European Commission.
 
The financial facility to support SMEs in developing such investment projects ensuring the observation of the provisions within the priority Directives of the European Union in such field of activity as: environment protection, safety at the work place, quality and safety of the products.
 
There ate to have priority in getting the funds such SMEs operating in the following industrial sectors: wood processing, electronics and IT, textile industry, food industry, detergents and cosmetics, spare parts and sub-components for tools, and also in such sectors showing a high development potential, and also in terms of export and value added.
 
BCR had concluded a similar agreement with the EBRD in January this year too, worth 20 million euros, to finance such projects in the energy efficiency field in the industrial sector.
 
BCR, which is a member of Erste Group Bank, is an universal bank, the most important banking institution in Romania managing assets of more than 17.5 billion euros.
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