EximBank expands co-operation with Chambers of Commerce
Bucharest, April 12, 2011 – EximBank is poised to heighten co-operation with the Chambers of Commerce, therefore has designed a partnership draft relying on the joint goal of both the bank and such organizations, notably to support the business environment.
„The Romanian Chambers of Commerce shall be regarded as special partners for EximBank due to their overall presence at national and local scale on the one hand and to their consistent willingness to boost relationship with member companies, on the other hand. Since the Chambers of Commerce are being known as efficient channels directing information to entrepreneurs, we believe it is worth expanding such a co-operation. By means of a project of the kind the information on the ways the bank shall back up the growth approaches of companies are sure to reach recipients easier and faster”, said Ionuţ Costea, president of EximBank.
For the onset of the project EximBank addressed 42 Chambers of Commerce with partnership agreements to be concluded for joint action. So far, more than the half of such institutions have showed availability to co-operate.
EximBank is a specialized institution whose threefold product portfolio focused on financing, guarantee and insurance,enables it togrant assistance to current activities and development of exporters, SME-s and companies involved in projects pertaining to key economic sectors, particularly those contributing to the absorption of EU funds.
The financing package supplied by the bank can include not only standard loans for current business or investments but also special products in the range of State Aid, such as: credits at subsidized interest rate and partial interest offset which allows for recovery of up to 50% of the rate paid for RON investment credits engaged with other banks.
Sovereign guaranteesprovided byEximBank are meant to support those companies in need of loans but short of enough collaterals. The guarantees issued by EximBank take over a significant part of the credit risk thereby paving the way to financing. For the insurance part, EximBank covers commercial and political risks associated with international transactions or with the implementation of investment projects run by Romanian companies abroad.