BRD - Groupe Societe Generale, the Romanian-French banking group, said it would grant small and medium-sized enterprises (SMEs) leu and hard currency denominated loans, requesting guarantees worth 70 per cent of the principal and interest rate in the first year of reimbursement, following the signing of a guarantee deal with the European Investment Fund.
The bank said the protocol specified a guarantee ceiling of Ђ22m. According to Mediafax, loans will generally have maturities of between three and six years, but in some cases they can also be extended to ten years.
The European Investment Fund is part of the European Investment Bank and specialises in venture capital and guarantees.
Source: Bucharest Business Week
