The European Investment Bank (EIB) has agreed to lend EUR 75 million, the first tranche of an approved loan of EUR 150 million, to Banca Transilvania (BT) to co-finance projects undertaken by Romanian SMEs and mid-caps.
According to a press release, around 85 percent of the EIB funding is dedicated to supporting investments in parts of Romania that are covered by the EU bank’s cohesion and regional development lending priority.
“The EIB loan, in cooperation with Banca Transilvania, will support the investment needs of 3,000 businesses by providing them with better access to long-term finance. We will focus on corporate investments that can accelerate economic growth and that are expected to support 37,000 job opportunities in Romania’s less developed areas,” EIB Vice-President Andrew McDowell commented.
This is BT’s second facility provided by the European Investment Bank in order to finance SMEs in Romania.