EBRD OKs a EUR 7 million loan for Impuls-Leasing Romania for rural development

Newsroom 24/01/2011 | 13:00

The European Bank for Reconstruction and development (EBRD) has approved a EUR 7 million loan to Impuls-Leasing Romania IFN (ILRO) to support the extension of leasing services in rural areas.

The company, which is one of the five national subsidiaries of the Swiss group IMPULS Leasing International AG which started its operations in Romania April 2007, provides vehicle and equipment leasing services to small and medium-sized enterprises (SMEs).

According to EBRD information, the project will address the financing constraints facing local companies, particularly agribusinesses and farmers in remote areas of the country.

“This is the first leasing project targeting rural SMEs in Romania. It will facilitate the access to financing for Romanian entrepreneurs and will contribute to the strengthening of the leasing sector in the country”, said Claudia Pendred, EBRD director for Romania.

Since the beginning of its operations in Romania, the EBRD has committed over EUR 5 billion to various sectors of the country’s economy which, importantly, attracted an additional EUR 9 billion of investments.