Romania

Small and medium sized enterprises SMEs in Romania will benefit from a new 10m credit line.

The Romanian factoring market is expected to maintain a growth pace of around 40% in the coming years.

In the first six months of activity, the insurer of French group Coface obtained 600,000 from commercial credit insurance activities.

MKB Romexterra Bank is targeting a 3.8% SME market share and has signed a collaboration partnership with the Ministry for SMEs, Trade, Tourism, and Liberal Professions.

The budget of the Ministry for SMEs, Trade, Tourism and Liberal Professions has been increased by 31% for 2008.

The EIB approved a €30m credit for BRD Groupe Societe Generale, with the funds intended for financing SMEs and municipalities.

Eximbank has launched a subsidized interest financing product of up to €1.5m that will last up to five years. 

According to Coface the number of bankruptcies in Romania grew to 7,500 this year.

The amount allotted to SME for investments, upgrading and revamping purposes, was increased by RON 35m.

More micro and small businesses in more Romanias regions will have access to finance following a EUR2.25 m loan from the EBRD to Express Finance.