EximBank extends support to Severnav activities
Bucharest, October 10, 2011 – EximBank has granted to shipbuilding Severnav Drobeta Turnu-Severin the financial instruments requested to finalize an export agreement concluded with a commercial partner from the Netherlands.
Due to the mix of products available from EximBank, Severnav managed to accomplish the building of a unit about 107 m high for a ship Bodewes Trader 5400 DWAT amounting to euro 2.5 million and whose setting to water took place by the end of last week.
“Shipbuilding involves a long term manufacturing cycle and EximBank ranges among the few banking institutes which during this harsh economic period dared to back up such activities. This was the message we also conveyed to the National Association of Romanian Shipbuilders answering the invitation they extended to us at the end of last week for the 50-th General Assembly in order to present them the products and services currently available to such sector of activities”, said Ionuţ Costea, president of EximBank.
To unfold this external agreement, the shipbuilder of Drobeta Turnu-Severin applied to EximBank for a multiproduct limit including export credits and letters of bank guarantee.
“EximBank helped us by providing the funds for vital agreements. Last year the bank supplied us with a multiproduct limit of euro 7 million, i.e. export credits valued at euro 1 million and letters of bank guarantee accounting for euro 6 million”, pointed out Cleonia Copaci, General Director of Severnav.
The parties pursued co-operation this year too, EximBank granting to the company of Drobeta Turnu-Severin another multiproduct limit amounting to euro 2.75 million.
Banca de Export-Import a Romaniei EximBank – S.A. is a specialized institution running supportive activities designated for the Romanian business environment, exporters and SME-s, and the international trade by means of financial, guarantee and insurance tailored instruments directed at core economic projects especially those contributing to the absorption of EU funds.
Companies expressing an interest in EximBank products may apply directly to the territorial units of the bank, or reach further information at the website www.eximbank.ro