Alexandru Petrescu, the former minister for business environment, will take over as general manager of the national loan guarantee fund for SMEs, reports local Profit.ro. He will replace Dumitru Nancu.

Petrescu himself was recently replaced from the minister's office by Ilan Laufer. At the end of June, the governing coalition laid off prime minister Sorin Grindeanu and some of his ministers, including Petrescu.

Alexandru Petrescu previously led the Romanian Post from mid-2014 until the beginning of this year.

The SME Loan Guarantee Fund was created in 2001. It is fully public and its focus in on SMEs and other beneficiaries of governmental guarantee programs.

editor@romania-insider.com