Navigation path

Left navigation

Additional tools

EIB extends support to SMEs, midcaps and municipalities in Romania through BCR Leasing

European Investment Bank - BEI/14/29   13/02/2014

Other available languages: FR DE

PRESS RELEASE

BEI/14/29

Bucharest/Luxembourg, 13 February 2014

EIB extends support to SMEs, midcaps and municipalities in Romania through BCR Leasing

The European Investment Bank (EIB) is providing a EUR 15 million loan to BCR Leasing to finance small and medium-sized enterprises (SMEs), midcap companies and public entities in Romania implementing projects in industry, services and infrastructure.

BCR Leasing IFN S.A., part of the BCR Group which is majority-owned by the Erste Group is signing a first tranche of EUR 15 million from a total credit line of EUR 75 million agreed with the EIB.

This loan is in line with the EIB’s priority to support Europe’s SMEs, particularly in the difficult current economic environment. To this end, the EIB is joining forces with well-established financing institutions, like BCR Leasing, that know the local market and have SMEs, midcap companies and public entities as their customers.

In particular, SMEs will be supported to purchase, renovate or extend tangible assets (other than land), invest in R&D, build up distribution networks in domestic or other markets within the EU and cover medium and long-term working capital needs to finance their regular trading cycle.

Public sector entities undertaking small and medium-scale infrastructure or sustainable community investments will be eligible for support towards improving public services in the fields of transport, energy, waste, telecommunications, water, health, education and social housing.

Mr Mihai Tanasescu, EIB Vice-President with responsibility for Romania, stated: “EIB funds will be on-lent with the help of a new EIB intermediary – BCR Leasing – in order to facilitate the access of SMEs, midcap companies and municipalities to long-term finance. The new facility will strengthen the EIB’s support to SMEs and midcaps and foster their competitiveness and productivity. Given that they represent the engine of the Romanian economy the operation will have a positive impact on economic growth prospects and job creation”.

Mr Bogdan Speteanu, CEO of BCR Leasing remarked: “Our financing is closely connected to the real economy and the productive sector. We are convinced that the deployment of the financial resources which we are undertaking together with the EIB will help local firms and public utilities to become more efficient, innovative and competitive. We do our best to provide smart financial intermediation aimed at supporting the whole Romanian economy and helping society attain the development levels of the EU.

The EIB loan to BCR Leasing is being granted under the Joint IFI Action Plan for Growth in Central and South Eastern Europe, which is focused on providing better access to long-term finance for Europe's SMEs in order to mitigate the effects of the financial crisis.

Background information:

The European Investment Bank is the long-term lending institution of the European Union and is owned by the EU Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.

BCR LEASING IFN, a member of the Banca Comerciala Romana Group which is part of the ERSTE Group, offers a complete range of financial leasing services for purchasing durable goods, i.e. automotive goods (automobiles, utility vehicles, fleets) and equipment (industrial machines, agricultural machinery, medical equipment, software and IT, etc.).

Banca Comerciala Romana (BCR – the Romanian Commercial Bank), a member of the Erste Group, is the most prominent financial group in Romania, including its universal banking operations (retail, corporate and investment banking, treasury and capital markets), and covering specialty companies working on the leasing market and in asset management, private pensions, housing banks and mobile banking.

Press contacts:

EIB:

Dušan Ondrejička, d.ondrejicka@eib.org, tel.: +352-4379-83334

Website: www.eib.org/press – Press office: +352 4379 21000 – press@eib.org

BCR:

Ionut Stanimir, ionut.stanimir@bcr.ro, tel.: +04-03735-10118 – website: www.bcr.ro


Side Bar

My account

Manage your searches and email notifications


Help us improve our website