Bucharest-based Raiffeisen Leasing, a subsidiary of Austrian Raiffeisen Bank International, takes RON 132 million (some EUR 30 million) from the European Bank for Reconstruction and Development, to finance micro, small and medium enterprises (MSMEs).

This is the EBRD’s first local currency loan to a leasing company in Romania and will be used to finance leases of equipment, trucks, trailers and commercial vehicles.

“This loan will help us meet rising financing requests from small and medium-sized enterprises and to offer a more diverse product line for our customers. The new financing line in RON completes our existing product range in local currency, dedicated to customers who want to minimise the credit risk and uncertainty associated with a foreign currency loan,” said Felix Daniliuc, General Manager at Raiffeisen Leasing.

To date, EBRD has invested almost EUR 7 billion across 368 projects in Romania, EUR 600 million being invested in 2014 alone.  It has also mobilised over EUR 14 billion for these ventures from other sources of financing.

Raiffeisen Leasing has been an EBRD client since 2003 under the EU/EBRD Leasing Facility. The new loan is the EBRD’s fourth financing deal with Raiffeisen Leasing in Romania, bringing the total amount extended to the company to EUR 80 million.

Irina Popescu, irina.popescu@romania-insider.com