New Lending Sources For Romanian Businesses and Consumers

EBRD and the Leasing subsidiary of the Romanian Commercial Bank signed a financial deal 10 million euros worth for supporting lending to consumers willing to buy consumer goods. Estimates show that the contracts sealed by RCB Leasing could amount to 90 million euros by the end of the year.

EBRD signed over the last few years various financing contracts with several leasing companies in Romania. Alpha Leasing got a five million euros credit to finance leasing contracts for the small and medium sized enterprises (SMEs). The same amount went to BT Leasing Transylvania. EBRD also lent 10 million euros to the Romanian Bank for Development Sogelease leasing company to finance the SMEs buying equipment. For its part, the Black Sea Bank for Trade and Development (BSBTD) will open a five million euros financing line for the Transylvania Bank to support foreign trade.

EBRD is the most important foreign investor in Romania, with the aggregate of engaged credits rising to two billion euros. The BSBTD is a financial institution born in 1999 from cooperation of countries in the Black Sea economic region and aims to boost economic development and regional cooperation with financing both private and public projects.