BCR lends EBRD funds to SMEs

Banca Comerciala Romana (BCR) is continuing to grant loans to SMEs, as a result of the extension of the financing facility previously agreed with the European Bank for Reconstruction and Development (EBRD) until October 30, 2010. This allows for the provision of a 20 percent non-reimbursable component, with the European Union and the Ministry of Regional Development and Housing’s support. “Apart from the non-reimbursable component covering up to 20 percent of the project value, SMEs also get free technical assistance from project consultants, including in drawing up the documentation requested by the EBRD and through monitoring the investment’s implementation,” said Ramona Ivan, executive director of BCR’s financial institutions division. According to her, over 40 percent of the SMEs in Romania are BCR customers. The beneficiaries of these funds can be SMEs that are active in industry, with priority sectors being: furnishing and wood processing; electronic, electro-technical and IT appliances; textiles; food; detergents and cosmetics; or spare parts and sub-parts.

BCR has already financed over 20 investment projects mainly aimed at enhancing the technological production process, modernizing production units and improving working conditions.

Anda Dragan