The European Bank for Reconstruction and Development (EBRD) has granted a EUR 40 million loan to local lender Credit Europe Bank to help it provide new financing to small and medium-sized Romanian companies.

The loan will be granted in three installments, and will increase the access to financing for Romanian companies, according to a press release of EBRD.

“The banking and non-banking financing remains limited, and expanding the access to financing is one of EBRD’s priorities in Romania,” said Matteo Patrone, EBRD regional general director for Romania.

Credit Europe Bank is owned by the Dutch company Credit Europe Bank NV, which is part of the Turkish group Fiba Holding AS. The bank had assets of some EUR 1 billion and a market share of 1.2% at the end of 2015.

EBRD is owned by 64 countries and two intergovernmental institutions.

editor@romania-insider.com