The EIB’s response will be provided by CEC Bank, Intesa Sanpaolo Bank Romania, Unicredit and BRD Sogelease and enable working capital, leasing finance and capital investment by SME’s and mid-cap companies across the country.
Romanian companies will be able to benefit from the new financing in both Romanian leu and euro.
“Enabling companies across Romania to continue to invest is essential for Romania to overcome economic, employment and social challenges caused by COVID-19. I welcome this significant EUR190 million new initiative that will provide targeted financial support for companies across the country in cooperation with leading financial institutions. The new scheme is better and more flexible. It allows working capital expenses including among others payment of salaries, social security and tax, without a minimum maturity requirement to help mitigate the economic impact of COVID-19,” said Florin Citu, Romania’s minister of finance and governor of the EIB.
In the coming weeks CEC Bank, Intesa Sanpaolo Bank Romania, Unicredit and BRD Sogelease will outline how companies can access new working capital, business investment and leasing finance, and cover salary, tax and social security costs.
“As new EIB vice president responsible for operations in Romania I look forward to supporting transformational investment across the country in the years ahead and further strengthening the EIB’s close cooperation with Romanian partners,” said Christian Kettel Thomsen, EIB vice president.
The dedicated EIB support for COVID-19 economic resilience in Romania is part of the EIB’s EUR20 billion global response to reduce the economic impact of the pandemic.