European Bank issued the following announcement on Sept. 11
EBRD helps increase access to finance for Romanian micro, small and medium-sized enterprises
€20 million loan in local currency to Crédit Agricole Romania
Funding to support lender’s growth and strengthen balance sheet
Romanian businesses will benefit from greater access to finance thanks to a €20 million loan, in Romanian lei equivalent, from the EBRD to Crédit Agricole Romania.
The funds will be used by the Romanian lender to finance local micro, small and medium-sized enterprises (MSMEs), a vital sector of Romania’s economy in terms of wealth and job creation.
The loan will also support Crédit Agricole Romania’s growth strategy and will help diversify the bank’s funding base, improving the currency and maturity structure of the balance sheet.
Crédit Agricole Romania was established in 2010, following the acquisition of Emporiki Bank, including its regional subsidiaries, by Group Crédit Agricole, the third largest banking group in Europe by assets. The bank provides a broad range of products and services and its main focus is on the SMEs active in the agribusiness segments.
The EBRD is a leading institutional investor in Romania and to date has invested over €8.3 billion in the country, primarily in the private sector.
Original source can be found here.
