BCR granted EUR 80 mln EBRD loan to finance SMEs

Newsroom 18/06/2013 | 10:41

The EBRD has granted a EUR 80 million loan to BCR, controlled by Austrian Erste Bank, aimed at small and medium-sized enterprises (SMEs) that have been affected by the financial crisis.

The loan will be provided in two equal tranches and will allow BCR to financed SMEs through investments loans, revolving credit facilities, loans for working capital, financing for leasing or other instruments.

BCR’s financing policy will have a particular focus on the agriculture and agri-business sectors.

“I would further underline the fact that a significant part of this funding partnership consists of local currency, in line with our dedication to gradually eliminate potential vulnerabilities arising from FX lending. I trust we shall find sustainable opportunities to take full advantage of such attractive funding,” said Tomas Spurny, CEO of BCR.

BCR has financed in the last 13 years over 10,000 projects developed by SMES, for which the total co-financing value exceeds EUR 1 billion.

The EBRD loan is part of the Joint IFI Action Plan for Growth in Central and South Eastern Europe, launched in November 2012, that includes total commitments of EUR 30 billion over two years.

Ovidiu Posirca