BCR gets EUR 75 mln for SME lending

Austrian-owned lender BCR has signed up for a EUR 75 million loan from the European Investment Bank (EIB) which will fuel lending for small and medium enterprises, according to the bank. The maximum amount which can be lent through BCR under the SMEs program is EUR 12.5 million, with the total cost of eligible projects reaching EUR 25 million. Eligible projects must be from agriculture, tourism and services, as well as manufacturing and the food industry. EIB has provided similar financing to Piraeus Bank and Alpha Bank, which borrowed EUR 50 million each. Loans from the EIB can only be for the co-financing of projects which are also attracting European funds. Over 75 percent of the projects previously financed through EIB loans have also received EU funding, according to BCR.

Corina Saceanu