The financing contract was signed Wednesday in Bucharest.
The partnership between Banca Transilvania and the EIB aims to encourage companies in Romania to start new investments, grow their business and create new jobs, based on flexible financing, on a long term.
This type of financing is part of the EIB program “Skills and Jobs – Investing for Youth,” an initiative aimed at employing youths.
The EIB, in partnership with Banca Transilvania, will offer incentives to beneficiary companies employing youths, by providing training opportunities or the possibility to cooperate with various colleges, schools and universities, with a view to broadening youths’ professional perspectives.
Romania’s youth unemployment rate currently stands at 23%.
The EIB is the European Union’s bank and the only bank owned by and representing the interests of the European Union Member States. The vast majority of EIB financing is through loans, but it also offers guarantees, microfinance, equity investment etc.