EximBank is launching the counter guarantee under the State name and account
Bucharest, March 2, 2015 – EximBank is offering starting this month a new guarantee product that will facilitate the participation of Romanian companies in investments projects in priority economic domains.
Thus, by the counter guarantee under the State name and account EximBank is guaranteeing up to 80% of the banking guarantee letters (BGL) issued by the commercial banks for projects aiming at supporting the infrastructure, public utilities development, regional development, the development/research activity, environment protection, employment and training of employees, SMEs development and international transactions.
”EximBankis completing its offer of complementary products adding to the ones of the commercial banks and thus, by putting together our products with their specific ones, the banks will be able to structure complex and complete financial solutions for their clients. The counter gurantee is granted to complete the collaterals issued by the companies that are requesting banking guarantee letters, that is a benefit both for the companies and the financing institutions.”, said Traian Halalai, President of EximBank.
The counter guarantee under the State name and accountis grantedfor thebanking guarantee letters issued for biddings, advance payments reimbursements, good execution or any other types of BGL requested in internal or export contracts, except for the exports to associated companies, production and selling of products related to tobacco and alcohol industries, gambling activities and the real estate developments and transactions. The currency and duration of the guarantee is the same with the one of the banking guarantee letter or the guarantees level.
EximBank is a specialized institution whose threefold product portfolio focused on financing, guarantee and insurance, enables it to grant assistance to current activities and development of exporters, SME-s and companies involved in projects pertaining to critical sectors for the economic development .
The financing products portfolio of EximBank consists in both credits for current activity, exports or investments and products from the state aid category such as the subsidized interest rate credit or the partial compensation of the interest rate allowing companies to receive up to 50% of the interest rate paid for the investments credits contracted in RON form any commercial bank. EximBank completed its offer for financing solutions with factoring and cash management services as well as with a wide range of treasury products.
The guarantees in EximBank’s portfolio are issued under the Romanian State name and account, are sovereign, reduce the risks associated with the crediting activity and facilitate the companies’ access to financing. The bank is offering guarantees for exporters, SMEs and other companies, involved in projects funded by European funds or those developing projects in key economic sectors such as infrastructure development and environment protection.
In terms of risks mitigation, EximBank is offering to companies the option of substantially reduce the commercial and political risks associated with commercial international transactions through its wide offer of insurance products. Along with its subsidiary EximAsig – a company specialized in insuring the financial and other complementary risks – EximBank may cover the risks of exporting companies active on al international markets both in European Union and in high risk areas such as Middle East, Asia, Africa or Latin America.
EximBank has now a 20 units network as compared to 12 at the end of 2012; interested companies may obtain additional details regarding the products by accessing www.eximbank.roor emailing at firstname.lastname@example.org.