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EBRD, EU, Alpha Leasing Romania to boost support for entrepreneurs
€5 million EBRD loan will support small and medium-sized enterprises
A €5 million loan from the EBRD to Alpha Leasing, one of the largest leasing
companies in Romania, is set to boost support for small and medium-sized
enterprises (SMEs) across the country.
The loan is provided under the EU/EBRD SME Finance Facility, a joint programme
of the European Commission and the EBRD to support the development and growth
of SMEs by facilitating their access to finance. Under this programme, the
EBRD has committed €850 million, of which €650 million has been disbursed by
local banks and leasing companies via 27,000 loans and leases. The EC has
committed €130 million in grant financing and for technical assistance since
the facility’s launch in 1999. This loan will be supplemented by a €100,000
technical cooperation package and up to €442,000 in financial incentives
provided by the EC.
Jonathan Woollett, EBRD Director for Non-Bank Financial Institutions, said
leasing is becoming increasingly important in the EU Accession countries, as
progress in transition leads to the development of more sophisticated
financial services, including leasing. The EBRD sees the expansion of leasing
activities as one of its priorities under its efforts to promote the
development of SMEs. Mr Woollett said he expects this loan to help local
entrepreneurs prepare for competition within the EU.
Alpha Leasing, a member of Alpha Bank Group, the largest banking group in
Greece, is already a strong supporter of SMEs in Romania, with more than 1,000
local companies already in its books, mainly small to and medium sized
businesses. The company is already in discussions with local importers and
suppliers of various types of equipment, including industrial, medical,
construction goods, as well as commercial light and heavy vehicles, all to be
leased under this facility.
Aris Gogos, Managing Director of Alpha Leasing Romania, said this loan will
further boost the company’s successful support for SMEs, especially within the
leasing market in Romania. “Our competitive advantages include our growing
experience of the local environment since 1998, our in-house know-how and
leasing expertise, and the high quality services provided by our well
educated, trained and skilled staff,” said Mr Gogos.
The SME Facility was launched under the European Commission’s Phare Programme,
the main channel for the EU's financial and technical cooperation with the new
member countries of central and eastern Europe. The budget earmarked for the
programme as a whole is about €1.5 billion a year.
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