This is the first tranche of a total credit line of EUR75 million BCR Leasing has agreed with the EIB.
This loan is in line with the EIB’s priority to support Europe’s SMEs, particularly in the difficult current economic environment, the European bank said in a statement.
“EIB funds will be on-lent with the help of a new EIB intermediary – BCR Leasing – in order to facilitate the access of SMEs, midcap companies and municipalities to long-term finance,” said Mihai Tanasescu, EIB Vice-President with responsibility for Romania.
“Given that they represent the engine of the Romanian economy the operation will have a positive impact on economic growth prospects and job creation.”
The EIB loan to BCR Leasing is being granted under the Joint IFI Action Plan for Growth in Central and South Eastern Europe, which is focused on providing better access to long-term finance for Europe’s SMEs in order to mitigate the effects of the financial crisis.