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IFC could lend Transilvania Bank 50 million euros to finance the medical sector

de Dragos Comache, transl/adapt. C.B.
Miercuri, 26 august 2009, 17:28 English | Business

International Finance Corporation (IFC) could offer Transilvania Bank a 50 million euros loan over seven years. The money is supposed to go to small companies supplying services to the medical sector, according to Romanian press agency NewsIn. The IFC is to analyse the proposal in September.

"The project entails awarding a non-guaranteed loan over seven years, worth of 50 million euros, to Transilvania Bank, to give access to credit to micro-enterprises and small companies delivering medical services", an IFC announcement shows.

Transilvania Bank signed an additional contract last year for another IFC loan, worth of 102.5 million dollars. Out of them, the IFC wanted to make sure 30 million euros will go to small households and to small and medium enterprises in Romania. The crediting facility included a syndicated loan of 72.5 million euros.

Transilvania Bank managed to have 11.07 million lei net profit for this year's first semester, ten times less than the least year's figures.

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