Romanian bank BRD-Groupe Societe Generale and the European Bank for Reconstruction and Development EBRD signed an agreement for a 200 million euro loan on Wednesday. The money will be used for the development of the private sector, SMEs included.

EBRD director for banking relations Jean-Marc Peterschmitt said the loan will have a big impact in Romania by supporting the increase of competitively in the corporate sector and mortgage for individuals.

BRD - Groupe Societe Generale is the second biggest bank in Romania and has assets of over 7 million euro. The bank has 2 million clinets and a network of more than 550 local branches.

EBRD is the most important investor in the Romanian economy with over 3.2 billion euro invested in more than 115 different projects. EBRD is owned by 60 states and inter-governmental institutions. Its aim is to support the transition from a centralized economy to a market economy in CE Europe and Central Asia countries.