ProCredit Bank to allocate EUR 15 million under the JEREMIE initiative in Romania
Based on agreements signed with the European Investment Fund, ProCredit Bank has granted over EUR 30 million in SME loans under the JEREMIE initiative, both in euros and in local currency, since December 2013. The allocation of the funds is aimed at supporting SMEs in their efforts to develop and become more competitive in a dynamic market.
By extending the agreement between ProCredit Bank and the European Investment Fund in November 2015, the Bank may continue to allocate a total of EUR 15 million in funds under the JEREMIE initiative in Romania by granting new loans to eligible SMEs.
“By supplementing the funds allocated to ProCredit Bank under the JEREMIE initiative, we can offer financial solutions to help SMEs realise their plans, implement investment projects and cover working capital needs, at favourable terms with low costs and flexible guarantees, and in this way we are both supporting and facilitating the access of SMEs to financial instruments made available by the European Union,” declared Mariyana Petkova, Deputy General Manager of ProCredit Bank.
The financing provided is supported by an operational programme co-financed by European Union Structural Funds pursuant to the “Joint European Resources for Micro to Medium Enterprises” initiative(JEREMIE). JEREMIE is implemented in Romania under the Sectorial Operational Programme “Increasing Economic Competiveness”, utilising funds provided by the European Regional Development Fund.
Taking advantage of our 13 years of experience in the Romanian business environment, as well as benefitting from the support and trust provided by the European Investment Fund through the agreements concluded in previous years, ProCredit Bank can continue to provide financial solutions supported by European instruments for Romanian entrepreneurs.