Facilities worth euro 31 mil. for 15 EU funded investment projects

Bucharest, November 2, 2011 – EximBank is considering to grant facilities amounting to almost euro 31 million for a package of 15 investment projects to be implemented by means of EU funds through the Payment Agency for Rural and Fishing Development (APDRP), Measure 121 – Farming management upgrade.

„We are confident that all 15 projects shall reach the implementation stage hence enabling EximBank to contribute to the application of the general target of Measure 121: due to the support granted to entrepreneurs of the kind, competitive animal husbandry farms will be set up, designed by EU standards”, stated out Ionuţ Costea, president of EximBank.

EximBank places at the disposal of companies and public authorities with projects relying on structural funds a mix including co-financing and pre-financing loans as well as comfort and non-committal letters or guarantees.

To draw such information closer to the targeted public EximBank concluded several partnership agreements with the Management Authorities concurrently participating in various informing events. Among the latest are the regional conventions of the Management Authority for Sector Operational Program „How to boost economic competitiveness” (in Iaşi, Constanţa, Cluj and Timişoara), as well as the Seminar organized by the Agency for Regional Development Bucureşti-Ilfov, in its capacity of intermediary Organism for Regional Operational Program.

The entrepreneurs were thus given access to information on the financing and guarantee solutions available from EximBank for those companies willing to capitalize on EU funds.

According to the project type, EximBank can grant investment loans meant to co-finance the constituent which stands for company’s own contribution. By means of such product a company having concluded a financing agreement with the management authority is granted 100% of the value of expenses both eligible and non-eligible related to its own contribution.

Likewise, the Bank also extends credits pre-financing the demands of companies thus covering for the lag occurred between the time of payments to suppliers within the project and the time of collection from the management authority. Therefore, cover is ensured up to 100% of the EU amount obtained.

The package also encompasses comfort letters through which the bank expresses its willingness to place at company’s disposal those funds required to help the project provided the latter has been agreed with the management authority. Moreover, EximBank shall guarantee all credits engaged by the companies with other commercial banks in order to implement projects relying on structural funds.

In the first half-year EximBank has granted facilities for EU funded projects amounting to more than Lei 400 million.

Economic operators can reach further information at the website www.eximbank.ro where a special section is available for products designed for entrepreneurs dealing with EU funded projects.