EIB lends 150 mln euro to Banca Transilvania for SMEs, midcaps and municipalities

Banca Transilvania has been approved a credit line of 150 million euro by the European Investment Bank (EIB), amount which will be allocated to projects to be promoted by small and medium-sized enterprises, midcap companies and public entities operating in Romania’s industry, services, agriculture and infrastructure sectors.

“Banca Transilvania is a new partner of the EIB in Romania, through which the “EU bank” will improve the access of SMEs, midcap companies and public entities to affordable investment finance. This cooperation is focused on the revival of the Romanian economy, encouraging Romanian companies to start new investments, consider possibilities of expanding their business activities and create new work places while relying on flexible long-term funding”, reads a release of the EIB.

The loan is granted under EIB’s framework, “Skill and Jobs – Investing for Youth” programme, which is aimed at supporting the employment of young people. In Romania, youth unemployment rate currently stands at 23 percent.

The EIB supports SME investment in Romania under the Joint IFI Action Plan for Growth in Central and South Eastern Europe, which is focused on providing better access to long-term finance for Europe's SMEs in a difficult economic environment.