The EIB announced that it will lend EUR 50 million to BCR Social Finance, which will provide an equal amount from its own resources and distribute the total to microenterprises across Romania. The package will offer lower interest rates than would otherwise be available without EIB involvement.
“Europe’s investment ambitions must reach every part of the economy, including its smallest businesses,” EIB vice president Ioannis Tsakiris said. “This loan [...] gives entrepreneurs across Romania greater access to the long-term finance they need to invest, adapt, and grow.”
Microenterprises are defined as companies with fewer than 10 employees and annual revenue or a balance-sheet total of no more than EUR 2 million.
A separate agreement backed by an InvestEU guarantee from the European Investment Fund will make EUR 100 million available to more than 5,300 Romanian microentrepreneurs, particularly in rural areas. An additional EUR 10 million will support investments in education and skills development.
“For a microbusiness, access to the right financing at the right time can make the difference between an investment that happens and one that is postponed,” said BCR Social Finance CEO Ștefan Ionuț Buciuc.
BCR Social Finance is a non-bank financial institution owned by Erste Social Finance Holding and Banca Comercială Română. It provides financing to small businesses, social enterprises, students and nongovernmental organizations that may have difficulty accessing traditional bank loans.