EximBank keeps granting interest rate offset during next years 2012 – 2014

Bucharest, October 24, 2011 – EximBank shall grant interest rate offset in the lapse of time ahead, 2012 – 2014 subsequent to the extension of the State aid scheme validity, which will enable the economic operators to curtail interest rate costs incurred by investment loans.

By means of the product Interest rate partial offset granted by EximBank, commercial companies can recover up to 50% of the interest rate paid for investment credits engaged in LEI with any commercial bank. The validity of such State aid scheme was due to cease by the end of the year but it was prolonged for the next two years.

„Since 2009 to mid-year 2011, almost euro 10 million were refunded in the accounts of the companies that have applied to us for this product. The interest rate offset is an enhancing tool towards the loans in national currency, and also a source of liquidities for those companies which deal with investment projects qualifying for financing”, pointed out Ionuţ Costea, president of EximBank.

The interest rate offset accounts for a de minimis aid (a State Aid allowed within UE which can be granted to a limit without prior notification and approval from the Competition Council or the EC). Considering the ceiling featured by a de minimis scheme, the amount to be assigned to a company can be as high as euro 200,000 de euro for three fiscal years.

Any economic operator can apply for an interest rate offset since last year the range of recipients was expanded from SMEs to all companies, irrespective of their size.

Companies expressing an interest in EximBank products may apply directly to the territorial units of the bank, located in Bucharest, Bacau, Brasov, Constanta, Cluj, Craiova, Timisoara, Buzau, Oradea, Deva, Iasi and Sibiu. Likewise further information may be reached at the website www.eximbank.ro or the address informatii@eximbank.ro on particular products and documents.