“The balance of loans granted by the entire banking system to the SME sectors and companies has grown by RON40 billion in the past 12 years, from RON77 billion in 2007 to RON117 billion in 2019, with the monthly growth average reaching RON0.3 billion. Financings worth RON10.2 billion were granted under the IMM Invest in approximately two months, which translates into a 34-fold increase above the monthly average of the past decade,” stated Dumitru Nancu, general manager of FNGCIMM.
Nancu said the loans granted via the IMM Invest program account for 11% of the total stock of leu-denominated loans for companies. He added that in 2019, the monthly growth rate for corporate loans was approximately RON1 billion per month.
IMM Invest is a government program intended to help small and medium-sized companies affected by the COVID-19 pandemic ensure working capital and capital for investments in the current economy. Loans granted under the IMM INVEST program are guaranteed by the Romanian State through the FNGCIMM, in proportion of 80% or 90% of the value of loans.