Paul Ichim, EximBank: Romanian companies should approach more courageously international projects
Bucharest, May 29, 2017 – Energy is a high development potential field and Romanian companies should approach more courageously the international projects especially considering the support they may have from EximBank that has a history of successful partnerships and may accelerate the necessary resources- both financial and in terms of products – to sustain such endeavors said Paul Ichim, Executive Vice president of EximBank, during Romanian Energy Awards Gala 2017, organized yesterday by The Diplomat-Bucharest.
EximBank has been awarded the Prize for Energy Financing during the event that aims at emphasizing the exceptional results of companies and organizations that have decisively contributed to developing projects and the energy business climate in Romania.
”There is still a scarcity of Romanian companies looking to invest or get involved in international projects even in the conditions that some of them have reached the full maturity on the local market and are now able to develop their operations abroad. From our perspective, there is an extraordinary potential in this field and I do believe that more and more Romanian entrepreneurs should follow the lead of private companies active in energy that have opened the ways and invested in projects abroad with EximBank support. We see foreign companies coming to Romania with the back- up of their ECAs (Export Credit Agency) – as it is the case of Austria – and implement several projects in energy field so we really encourage the Romanian companies to adopt this pattern and approach us in full confidence because we are able to fully support them in a similar way”, added Paul Ichim.
Supporting projects in the energy field represents a priority of EximBank, the bank’s policy on long term focusing on endorsing projects in the renewable energy line and initiatives aiming at increasing the energetic efficiency using non-reimbursable funds.
The bank is experienced in successful partnerships with companies active in this field and intends to further support such projects. Most recent partnerships are concluded with Romelectro, one of the biggest general contractors for energy projects, that has been granted by EximBank a financing facility amounting at 63 Million Lei, for a project in Egypt, as well as the one with Electrogrup, top player in the field of energy infrastructure, telecom and civil buildings consisting in a financial package of 11 Million Eur, for services export.
Also, EximBank has recently issued and insurance policy in the name of and on the account of Romanian state covering the non-payment risks associated with a 2.5 Million Euro export in Ukraine for Totalgaz Industrie, one of the leading local manufacturers for natural gas equipment and machinery for extrusion, transport and distribution.
EximBank has been actively involved for almost 25 years in supporting and promoting the Romanian business environment by endorsing local companies’ projects. The bank has developed complex integrated solutions for exporters by supporting the export activity since production stages, delivery up to cashing in the counter value of the exported goods by:
- FINANCING PRODUCTS – covering costs for goods production and delivery or for exported services;
- GUARANTEES – issued in the name of and on the account of Romanian State, reducing risks associated with financing and facilitating access to it;
- INSURANCE issued in the name of and on the account of Romanian State covering the cashing in of the exporters against the risks associated to foreign partners and target countries;
- TRADE FINANCE adjusted to company specifics – Documentary Letter of Credit; Letter of Banking Guarantee ; Incasso; Documentary Bill of Payment ;
- COMMERCIAL INFORMATION ON BUSINESS PARTNERS.