The European Bank for Reconstruction and Development (EBRD) opened a second office in Romania, in Cluj-Napoca, becoming the first international financial institution to open a regional office in the Transylvanian city.

The Cluj-Napoca office will mainly support local small- and medium-sized enterprises (SMEs) in the region with expert advice, training and access to finance. Through the EBRD’s Advice for Small Businesses (ASB) programme, funded in Romania by the European Union and the EBRD’s Small Business Impact Fund, the Bank has already provided advisory support to more than 900 Romanian SMEs, including regional business leaders such as Arobs, Ciserom, and Unilact.

The new EBRD office was officially opened Thursday by Charlotte Ruhe, EBRD Managing Director, Central and South-Eastern Europe, Mark Davis, EBRD Regional Head Romania and Bulgaria, and Nadia Petkova, EBRD Director, Regional Network, SME Finance and Development.

“The opening of our new office in Cluj-Napoca confirms our commitment to Romania. We have supported hundreds of companies across the country through direct and indirect investment, as well as advisory projects, and we now want to increase our support for businesses in Transylvania,” Charlotte Ruhe said.

In Romania, the EBRD focuses on financing sustainable infrastructure, boosting private-sector productivity by helping private companies to expand and improve their workforce skills, and developing the financial sector and capital markets. To date, the Bank has invested almost EUR 9.7 billion in the country’s economy through 488 projects.

irina.marica@romania-insider.com

(Photo source: PR)