The Black Sea Trade and Development Bank (BSTDB) is increasing the availability of financing to small and medium enterprises (SMEs) in Romania with a EUR 40 million SME Facility to Alpha Bank Romania. The Facility will be used to finance investment and working capital needs of industrial, production, agricultural or service-related SMEs in the country.
“Assisting the SME sector development in the Black Sea region is one of BSTDB’s strategic priorities as a regional development bank. We are happy to start cooperation with Alpha Bank Romania to jointly improve access to capital for Romanian small businesses and help generate employment, increase export capacity and competitiveness and otherwise support economic growth.”, said Dmitry Pankin, BSTDB President.
This operation will bring the total BSTDB financing provided in support of Romanian SMEs to more than EUR 100 million.
“Alpha Bank is committed to financing SMEs, which offer significant support to economic growth and contribute to the creation of new jobs in the country. The partnership with BSTDB is in line with the Bank’s ongoing support to the development of the SME market segment”, said Periklis Voulgaris, Executive Vice President of Alpha Bank Romania. “This arrangement will also provide the Bank with a more diversified source of funding from international lenders.”