Raiffeisen Bank and the European Investment Fund (EIF) have signed a Ђ40m accord to guarantee loans for Romanian small- and medium-sized enterprises (SMEs).
Under the deal, investment projects with a minimum duration of three years will qualify for guarantees, with EIF offering guarantees for 50 per cent of the value of loans granted by the bank to SMEs.
"The agreement signed with the European Investment Fund will undoubtedly lead to an increase in the volume of loans for investments granted by Raiffeisen Bank. Also, the guarantees requested from clients will be simplified and loan maturities will be extended," said Alexandru Ciobanu manager SME sector at Raiffeisen Bank.
Source: Bucharest Business Week
