Provision of a senior unsecured loan to OMRO IFN SA ("OMRO") in the amount of up to EUR 1 million for on-lending to local micro, small and medium-sized enterprises ("MSMEs") in Romania under the Financial Intermediary Framework ("FIF").
The proceeds of the loan will be used to finance local micro, small and medium-sized enterprises (MSMEs) to ensure their uninterrupted access to finance as the economy continues to recover from the Covid-19 pandemic.
ETI score: 60
The project will support the Financial Intermediary Framework qualities by enhancing both OMRO's competitiveness by helping expand its MSME portfolio with a focus on reaching regional clients outside of the capital and its resilience by helping ensure prudent lending practises and adequate portfolio quality. With its wide outreach through digital channels, OMRO is well positioned to provide finance to MSMEs and attract new MSME clients.
OMRO IFN SA
OMRO is a microfinance institution that provides financing to MSMEs in rural areas and smaller cities of Romania that are underserved by traditional banks.
EBRD Finance Summary
Senior loan of up to EUR 1,000,000.
Total Project Cost
Total project cost is up to EUR 1,000,000.
The EBRD's proposed loan will help offer financing to diversify the OMRO's funding base, enhance knowledge, innovation and capacity building, and enable expansion.
Environmental and Social Summary
OMRO will be required to comply with the PR 2, 4 and 9 and adopt the E&S Risk Management procedures to ensure that OMROS's borrowers will comply with applicable national environmental, health and safety and labour requirements, adhere to the expanded EBRD E&S Exclusion List and Referral List introduced with ESP 2019 and submit Annual Environmental and Social Reports to the EBRD on E&S matters and on the implementation of the Performance Requirements.
Technical Cooperation and Grant Financing
Company Contact Information
0040 265263 644
PSD last updated
21 Sep 2021
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Environmental and Social Policy (ESP)
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More information on the EBRD’s practices in this regard is set out in the ESP.
Integrity and Compliance
The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.
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Access to Information Policy (AIP)
The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.
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Independent Project Accountability Mechanism (IPAM)
If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).
IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.
Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM via email firstname.lastname@example.org to get guidance and more information on IPAM and how to submit a request.