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88 mln euro in credits for Romanian SMEs

Luni, 11 decembrie 2006, 0:00

The European Bank for Reconstruction and Development, the European Commission and the Romanian Government launched a new funding program for small and medium enterprises in Romania, amounting to 88 million euro.

The program, by which small SMEs of up to nine employees may receive credits of about 10,000 euro, was created to improve the access to financial services among entrepreneurs in underdeveloped and rural areas across the country.

EBRD contributes 40 million euro to the plan. Another 30 million euro will be delivered through a syndicated loan on the capital market. The EC contributes 13.6 million, while the Romanian Government will add 4.42 million euro from the 2005-2006 PHARE Program.

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