Alpha Bank Romania, the local subsidiary of Greek banking group Alpha Bank, has contracted a EUR 40 million loan facility from the Black Sea Trade and Development Bank (BSTDB).

The lender will use the money to increase its financing of local SMEs in industry, manufacturing, agriculture and services.

“Assisting the SME sector development in the Black Sea region is one of BSTDB’s strategic priorities as a regional development bank. We are happy to start cooperation with Alpha Bank Romania to jointly improve access to capital for Romanian small businesses and help generate employment, increase export capacity and competitiveness and otherwise support economic growth,” said Dmitry Pankin, BSTDB President.

This operation will bring the total BSTDB financing provided in support of Romanian SMEs to more than EUR 100 million.

editor@romania-insider.com