The EBRD is diversifying the availability of financing for small and medium-sized companies in Romania with a €7 million loan to IMPULS-Leasing Romania IFN SA (ILRO) to support the extension of leasing services in rural areas.
IMPULS-Leasing Romania IFN SA, one of the fastest growing leasing companies in Romania, provides vehicle and equipment leasing services to small and medium-sized enterprises (SMEs).
The EBRD loan will enable the company to meet the growing demand for more diversified leasing products from Romanian SMEs and to expand its product portfolio. The project will address the financing constraints facing local companies, particularly agribusinesses and farmers in remote areas of the country.
“This is the first leasing project targeting rural SMEs in Romania. It will facilitate the access to financing for Romanian entrepreneurs and will contribute to the strengthening of the leasing sector in the country”, said Claudia Pendred, EBRD Director for Romania.
“After two difficult years for the leasing industry, ILRO is expanding beyond its core SME business by growing our agricultural leasing business which provides finance to farmers and rural businesses. This new line of business is assisted by the EBRD loan and by the accompanying technical assistance program offered by the EU which helps ILRO to build its strengths in agricultural leasing”, said Razvan Diaconescu, General Manager of Impuls Leasing Romania IFN SA.
The financing to IMPULS-Leasing Romania IFN SA is extended under the EU/EBRD SME Finance Facility Framework*.
Since the beginning of its operations in Romania, the EBRD has committed over €5 billion to various sectors of the country’s economy which, importantly, attracted an additional €9 billion of investments.
IMPULS-Leasing Romania IFN SA is one of the five national subsidiaries of the Swiss group IMPULS Leasing International AG which started its operations in Romania April 2007 and became shortly one of the top seven leasing companies in Romania.
*The EU/EBRD SME Finance Facility, a joint programme of the European Commission and the EBRD, supports the development and growth of entrepreneurs by facilitating their access to finance. To date the Facility comprises of €1,222 million of EBRD financing, supported by EC grant funding from the Phare programme of €180.75 million. The Phare programme is the main channel for the EU’s financial and technical cooperation with accession countries. For further information, see: http://europa.eu.int/comm/enlargement