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Friday, December 17, 2004
Business in Romania blog
Banca Transilvania signed a financing agreement of EUR 10 mln. with the Netherlands Development Finance Company (FMO) to support SME, stated the general manager of the credit institution, Robert Rekkers.

FMO was founded in 1970 as collaboration between the Dutch Government and the private sector in this country. The state holds 51% of the institution shares, and the Dutch banks 42%. In March 2003, Banca Transilvania signed an agreement with the Dutch institution on opening a credit line of USD 10 mln. for mortgage loans for the population with a maturity up to ten years.
"The EUR 10 mln. loan maturity is seven years. No matter the domain of activity, the SME will have the possibility to access credits with a maximum value of EUR 750,000 for investments or work capital. Credits can be assigned for a maximum period of seven years”, Rekkers added.

At the same time, Rekkers announced that Banca Transilvania would contract on Friday a unionist credit of EUR 22.5 mln. from several international banks, in order to diversify financing sources and to favor the credit activities development.

A part of the financing summing up EUR 7.5 mln. will come from the European Bank of Reconstruction and Development (EBRD), and the rest from a commercial banks consortium. The credits’ maturity will be up to 5-7 years. The loan will allow the bank to assign medium and long-term financings to small and medium-sized enterprises to companies and individuals in Romania. Banca Transilvania, with the headquarters in Cluj-Napoca, will hold at the end of this year, 116 territorial units in Romania, according to Rekkers.

Source: Reporter.gr

Posted by Mihai : 12/17/2004 01:12:00 pm Banca Transilvania receives EUR 10 m. for SME's
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