Paul Ichim: EximBank has the capacity of supporting infrastructure development

Bucharest, October 10, 2016 – EximBank has the capacity of supporting the implementation of infrsatructure projects, especially the ones deployed by the local authorities and this ability may be increased once the bank will take over the specific responsibilities of a development bank that allow the creation of effective financing and support mechanisms for the local economy, said Paul Ichim, Executive Vice president of EximBank, during the ”Business Summit – Împreună pentru România” conference.

”I have been asked several times what addition may a development bank bring as compared to a commercial one and my answer that I foind relevant is that case study financed by the Polish development bank. The project is a public-private partnership for developing a railway station and creating an urban space, amounts at 27,7 Million Euro and consists in the raiulway station modernization as well as the building of underground and above the ground parking spaces, commercial buildings, aso. The development bank financed an amount of 10 Million Euro for de 17 years, at an interest rate of 0,87%. The benefit of such project, that may be serviced solely by a developemnt bank resides in: 1,7 hectares of land revitalized, touristic and entertainemnt facilities, creation of 400 new jobs. This example is eloquent in terms of the way a development bank is functioning and the implications that it may have on local development”, declared the EximBank representative during the ”Infrastructură, IT and Logistics”panel of the summit.

He mentioned that in Romania the project of establishing a development bank, placedunder public discussion for more than one year is a bit delayed in implementation but ” we are confident that the revising and updating of the relevant legal framework will be fulfilled shortly so as we will be able to implement, as all our neighbours are, integrated projects that bring along new jobs, support the local infrastructure development and sustain the economic growth of the country”.

EximBank has been actively involved for almost 25 years in supporting and promoting the Romanian business environment by endorsing the local companies’ projects. The bank started up as an export agency and has developed its scope of work, by keeping its unique business model.

   Following the adjustments made to its business pillars along the time in order to adapt to the national and international economic challenges, EximBank is now capable of presenting to the corporate segment a products and services portfolio that attracts all companies, either SME or large companies, involved in international transactions or only operating locally.

Also, acting as State agent on the insurance and guarantees market, EximBank is the main channel for the public funds made available by the Romanian state to be infuse din the local economy, thus contributing to increas teh local companies competitivity.

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