Loans have been granted since the signing of the first agreement between ProCredit Bank and the EIF, in December 2013, until present.
“ProCredit Bank is one of the few banks in Romania providing this type of financing solutions for SMEs, and it will further grant loans worth nearly EUR12 million, under the JEREMIE program, by the end of the current year,” the bank said in a statement.
SMEs can use these loans to finance investments and current operations, on a short and medium term.
The JEREMIE initiative developed in cooperation with the European Commission allows member states to use part of their EU structural funds to finance SMEs. The program targets to ease SMEs’ access to financing.