The European Bank for Reconstruction and Development (EBRD) has extended a EUR 12 million loan to local lender Libra Internet Bank.

This loan will help Libra Bank to increase the support for small and medium enterprises (SMEs).

“Improving the access to financing for microenterprises, and small enterprises remains a key priority for EBRD’s activity in the country. We are eagerly waiting for the results of this loan, as we plan to increase the support for local private entrepreneurs in the near future,” said Matteor Patrone, EBRD regional director for Romania and Bulgaria.

The EBRD is a leading institutional investor in Romania. It supported 29 projects with EUR 546 million of debt and equity investments last year. Of this financing, 93% was provided to the country’s private sector.

Libra Internet Bank, which specializes in financing small companies and individuals with liberal professions, is owned by American group New Century Holding (NCH), one of the biggest institutional investors in Romania.

editor@romania-insider.com