The lender said in a statement that this is the second supplementary allocation and the overall SME loans through this financial instrument reach EUR125 million.
Loans, which will be granted on a medium and long term, will be used to finance SMEs’ current operations and investments.
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. Loans under the program have lower interest and low guarantees, of 0% to 70%, depending on the financed SME’s financial situation.
In Romania, the JEREMIE initiative is managed by the EIF and endorsed through the Sectoral Operational Program “Increasing Economic Competitiveness 2007-2013, co-financed by the European Regional Development Fund. It has a final budget of EUR225 million which will be used to grant total financings of over EUR600 million.