EximBank has provided to companies involved in EU projects twice as many facilities as in 2010

Bucharest, May 30, 2011 – EximBank has granted in the first four months of 2011 total facilities of over RON 200 million to companies dealing with EU funded projects, thereby accounting for the double of the amount recorded throughout 2010.

„From the beginning of the year to April end, more than 30 commercial companies have benefitted from our support to implement EU funded projects. The total projects amount reaches RON 370 million which stands for more than the double of the projects value sustained along the last year. We were keen on a stronger support extended to commercial companies specifically involved in EU funded projects and according to present results we believe significant progress has been recorded in this respect.”, asserted Ionuţ Costea, president of EximBank.

Most of the projects sustained with EximBank facilities this year were focused on investments in animal husbandry – setting up farms and building shelters – according to Guideline 121 – „Upgrade of farming opportunities” within the National Program for Rural Development 2007-2013.

“We truly expect this year a prominent surge of the number of EU funded projects with EximBank help taking into account not only the companies’ rising interest into European amounts, but also our full capability to meet the demands of economic operators and supply them with the funds specifically requested. Moreover, we strive to embolden the successful partnerships already in place with various companies to such end, thereby to persuade more contractors to apply for non-disbursable funds tailored to their projects.”, added Ionuţ Costea.

2010 was the first year for EximBank when the policy of the bank was particularly directed at supporting those companies running EU projects, in line with a comprehensive mix of products designed for such range of commercial companies.

According to the type of project, EximBank can grant investment loans meant to co-finance the constituent standing for company’s own contribution. By means of such product the company having concluded a financing agreement with the management authority is able to get 100% of the amount of eligible and non-eligible expenses incurred by its own contribution.

Likewise, the bank extends loans designed to pre-finance the company’s needs therefore bridging the gap between the time of payments made to suppliers within the project and the time of collection by the management authority. Thereby up to 100% of the EU funding value got is duly covered.

The package described before also includes comfort letters through which the bank shows its willingness to place at the disposal of the company the funds required to sustain the project, provided the latter has been agreed with the management authority. Furthermore, EximBank can guarantee those loans engaged by companies with other commercial banks to implement projects relying on structural funds.

Economic operators can reach further information by accessing the website www.eximbank.ro where a special section is devoted to products intended for entrepreneurs dealing with EU funded projects.