DGAP-News: ProCredit Holding AG & Co. KGaA / Key word(s): Miscellaneous/Miscellaneous
SMEs in Romania benefit as the EIB and ProCredit Bank Romania sign first credit line agreement in local currency worth EUR 20 million
Bucharest 19 October 2017. The European Investment Bank (EIB) and ProCredit Bank SA, in Bucharest, Romania today signed a credit line agreement amounting to approximately RON 90 million (EUR 20 million), which will be used to support small and medium-sized enterprises in Romania. The EIB was represented by Andrew McDowell, Vice President and ProCredit Bank by Mariyana Dimitrova Petkova, Member of the Management Board.
This represents the first credit line in Romanian leu from the EIB and marks the continuation of the cooperation between the EIB and the ProCredit group in the region. It will support ProCredit Bank SA in providing financing to businesses in Romania that contribute to development and employment in the country.
The credit line will be disbursed to ProCredit Bank business clients who are active in the production, trade and service sectors, and who comply with the bank's ethical, social and environmental standards. This agreement is a clear sign of the strong commitment on the part of both institutions to building a sustainable private sector in Romania.
"Cooperation of EU bank with ProCredit Bank in Romania will provide Romanian companies with much needed access to long-term, reliable and affordable financing. This is important for the private sector development in general and for small and medium-sized enterprises in particular," said EIB Vice-President Andrew McDowell.
ProCredit Bank SA Member of the Management Board, Mariyana Dimitrova Petkova, highlighted the importance of this event for Romanian SMEs: "This sends a strong positive signal to the business community in Romania, as loans in local currency will support the long-term planning of investments. This will allow small and medium-sized enterprises to upgrade and expand their operations. The signing of today's contract also reflects the shared principles and goals of both institutions, as well as our joint commitment to promoting growth and employment by supporting small and medium-sized enterprises."
Borislav Kostadinov, Member of the Management Board of ProCredit Holding, the Frankfurt am Main (Germany) based parent company of the ProCredit group, added: "We are very pleased to see that our well-established cooperation has resulted in the signing of another agreement between the EIB and the ProCredit group in South Eastern and Eastern Europe, greatly easing access to financing for SMEs in this region."
Andreea Pop, ProCredit Bank S.A.,
19.10.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||ProCredit Holding AG & Co. KGaA|
|60486 Frankfurt am Main|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|