EximBank joining again the Management Authority for the Sector Operational Program
Bucharest, October 7, 2011 – EximBank representatives participated in the regional Convention organized in Constanţa by the Management Authority for the Sector Operational Program “Increasing Economic Competitiveness” (AM POS CCE) in view of informing and advising the business environment on this European program. That was the second event of the kind EximBank attended after a previous meeting in July in Iasi.
During the event which convened around 150 participants – economic operators or consultants, one of the most frequent issue facing the applicants was pointed out as being the lack of co-financing funds. The AM POS CCE officials underscored that scarce financing had deterred some applicants from their approach though their projects were found eligible and already approved.
Under the circumstances EximBank officials mentioned that the bank places at the disposal of companies and public authorities with projects relying on structural funds a mix including co-financing and pre-financing loans as well as comfort and non-committal letters or guarantees. Therefore, according to the type of project relying on structural funds, EximBank may extend the following products:
– Investment loans meant to co-finance the constituent accounting forcompany’s own contribution to the EU funded project.
– Pre-financing loans required by companies to bridge the gap between the time of payments to project related suppliersand the time of collection from the management authority.
– Comfort Letters – through such an instrument the bank expresses its willingness to place at company’s disposal the funds for project implementation.
– Guarantees– EximBank can guarantee those credits engaged by companies with the commercial banks to turn to good account the projects relying on structural funds.
In the first half-year EximBankhas granted facilities amounting to more than Lei 400 million for projects unfolded with European funds.
Companies expressing an interest in EximBank products designed to draw in EU funds may access the special section on the site www.eximbank.ro for quick information available.