EximBank has joined the European Club of Public Banks
Bucharest, January 27, 2011 – EximBank has become a member of the European Association of Public Banks – EAPB, which will enable the bank to acquire quick information on every issue related to the process of European accession and structural funds assignment.
„Such a partnership is meant to draw EximBank closer to European institutions, thus opening a channel of information of prime interest for the bank in order to reach the goal of extending professional support to those companies keen on making good use of European money”, declared Ionuţ Costea, president of EximBank.
EAPB brings together not only banking institutions rampant on the European stage such as instituţii Erste Bank or DEXIA, but also EximBank peer institutions, namely : Bulgarian Development Bank, Hungarian Export-Import Bank, Bank Gospodarstwa Krajowego of Poland, Slovene Export and Development Bank etc. The association aims to promote and heighten mutual knowledge, expertise and communication sharing between its members on banking and financial legislation, as well as on European economic and fiscal policy.
The product mix which EximBank has particularly designed to help those companies and public authorities involved in projects relying on structural funds includes co-financing and pre-financing credits, non-committal letters of intent or guarantees. Specifically, by means of such products EximBank is able to meet 100% the financing demands related to projects already mentioned.
Therefore, EximBank supplies credits meant to co-finance the part accounting for companies’ own contribution. Moreover, EximBank grants credits to pre-finance companies’ needs to bridge the gap between the time of payments to suppliers and the time of collections from the management authority. The product mix also includes letters of comfort, an instrument expressing bank’s intention to place at the disposal of a company supportive funds for the project duly approved by the management authority. Likewise, EximBank can guarantee those credits engaged by companies with other commercial banks to implement the projects relying on structural funds.