The agreements are expected to generate a total financing of EUR246 million.
The first three agreements of the initiative for SMEs in Romania were signed on Wednesday, in Brussels, between the group of EIB and commercial banks Raiffeisen Bank, Banca Comerciala Romana (BCR) and ProCredit Bank, according to a press statement issued on Wednesday by the European Commission representation office.
„Over 4,300 SMEs, micro-enterprises and start-ups in Romania will get easier access to financing based on three agreements which are expected to generate a total financing of EUR246 million, namely, nearly half of a total budget of EUR540 million of the program Initiative for SMEs,” the statement also reads.
The 2014-2020 Operational Program SME Initiative, worth EUR100 million, supports SMEs by facilitating access to loans and providing a guarantee rate of up to 80%, according to Romania’s Regional Development, Public Administration and EU funds Ministry.