The EBRD is considering a senior loan for up to EUR 100 million in one tranche to BCR to be on-lent by BCR to SME companies in Romania. The proceeds of the credit line will be used by BCR to provide medium and long-term financing to private companies for production, investment, trade, services and working capital needs.
Transition impact potential derives from the funding support for SME lending which is currently limited in Romania. Availability of financing for short, medium and long-term SME lending will further build up on the successful implementation of the other credit lines granted by the EBRD to BCR in the past. Supporting the growth of BCR will also strengthen the banking sector under the current global crisis.
Banca Comerciala Romana (BCR), part of the Erste Group, a private commercial bank organised and functioning under the law of Romania. As of end-2008, BCR’s total micro and SME portfolio amounted to more than EUR 2.6 billion (unaudited). As of the same date, BCR’s micro and SME market share was above 20%. Its client base was comprised of more than 4.5 million clients, both companies and individuals.
A senior loan for up to EUR 100 million extended by the Bank to BCR.
Up to EUR 100 million.
BCR will be required to continue to comply with the EBRD's Environmental Procedures. This will include adherence to the EBRD's Environmental and Social Exclusion Lists, the Environmental Risk Categorisation List (as revised in 2008) to be applied to all sub-loans under the Bank's financing, and submission of annual environmental and social reports to the Bank.
BCR benefited in the past years from technical assistance granted to implement SME facilities provided by the EU. BCR currently benefits of TC for Energy Efficiency and Compliance Support Facilities. No TC is envisaged for the proposed transaction.
Mrs. Loredana Rautu
Head of Financing Programs Department
Public and Infrastructure Financing Division
Tel. +40 37 351 6501
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