EBRD becomes first international financial institution to open office in Cluj-Napoca

The European Bank for Reconstruction and Development (EBRD) is expanding its presence in Romania by opening a new office in Cluj-Napoca, the country’s second largest city. The EBRD is the first international financial institution to open a regional office there, recognising the significant potential of its location.

Situated in the heart of historical Transylvania, Cluj-Napoca is a gateway to three strategic regions of Romania: the north-west (where it is located), the centre and the west. The city has demonstrated its ability to promote high-tech business sectors and is known for its strong information technology (IT) industry and excellent academic sector.

The Cluj-Napoca office will mainly support local small- and medium-sized enterprises (SMEs) in the region with expert advice, training and access to finance. Through the EBRD’s Advice for Small Businesses (ASB) programme, funded in Romania by the European Union and the EBRD’s Small Business Impact Fund, the Bank has already provided advisory support to more than 900 Romanian SMEs, including regional business leaders such as Arobs, Ciserom and Unilact.

The new EBRD office was officially opened thursday by Charlotte Ruhe, EBRD Managing Director, Central and South Eastern Europe, Mark Davis, EBRD Regional Head Romania and Bulgaria, and Nadia Petkova, EBRD Director, Regional Network, SME Finance and Development.

Charlotte Ruhe said: “The opening of our new office in Cluj-Napoca confirms our commitment to Romania. We have supported hundreds of companies across the country through direct and indirect investment, as well as advisory projects, and we now want to increase our support for businesses in Transylvania.”

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In Romania, the EBRD focuses on financing sustainable infrastructure, boosting private-sector productivity by helping private companies to expand and improve their workforce skills, and developing the financial sector and capital markets.

To date, the Bank has invested almost €9.7 billion in the country’s economy through 488 projects.