Agreement between the European Investment Fund and Raiffeisen Bank Romania, with record guarantees worth 400 million euro

The European Investment Fund (EIF) grants Raiffeisen Bank Romania two guarantee schemes worth 400 million euros to finance investments made by SMEs in the local market. The signing of the agreement between EIF and Raiffeisen Bank supports the largest investment plan in recent years, dedicated to small and medium-sized enterprises.

The agreement with the EIF was also signed by four other banks in the market, the total amount allocated, in the first phase, for this financial instrument amounting to 1 billion euros, which will allow the granting of financing in a total amount of 2.5 billion euros. Through the two guarantee programs, Raiffeisen Bank targets the area of Sustainability, with an emphasis on supporting SMEs in the transition to the green economy, and Competitiveness, by accessing more advantageous financing conditions (such as: lower advance or financing period longer).

They have the capacity to support the granting of loans for small and medium-sized businesses in Romania in the amount of over 600 million euros in the next 2 years. Also, the credits granted under the two new programs will benefit from a preferential interest rate, thus facilitating access to financing. In the Competitiveness program, the guarantee rate will be between 30% and 70%, while for Sustainability, the guarantee rate will be 70%.

The guarantees are supported by InvestEU, the European Union’s long-term financing program, and by Romania’s National Recovery and Resilience Plan (PNRR).

“We have a long experience with the European Investment Fund and we are happy to have the opportunity to continue this successful partnership, by implementing two new financial instruments under the umbrella of InvestEU / PNRR, which perfectly align with our strategic objectives in the segment of small businesses and medium sized. We are convinced that, in this way, we will increase their access to financing and, at the same time, we will contribute to strengthening the resilience and competitiveness of the entrepreneurial environment in Romania, by facilitating the transition of the real economy towards sustainable practices,” says Alina Rus, CFO and member of the board of Raiffeisen Bank Romania.

Raiffeisen Bank Romania has a complex experience in implementing the guarantee programs of the European Investment Fund. During the last 10 years, we have run 7 such programs in Romania through which we have granted financing worth over 1 billion euros, mainly to SMEs.

About the European Investment Fund

The European Investment Fund (EIF) is part of the European Investment Bank Group. Its core mission is to support micro, small and medium-sized enterprises in Europe by facilitating access to finance. The EIF is also active in supporting climate and infrastructure investments with a strong focus on environmental sustainability. Through its role, the EIF supports the EU’s objectives to support innovation, research and development, entrepreneurship, economic growth and employment.

About Raiffeisen Bank Romania

Raiffeisen Bank, a leading universal bank, has been active on the Romanian banking market for over 25 years, serving approximately 2.3 million clients, individuals and legal entities. The bank has 4,919 employees in 291 units, 1,124 ATM&MFM and 27,760 POSs.