EIB signs with UniCredit Bank the first loan granted to a commercial bank under the Juncker Plan in Romania

The European Investment Bank (EIB) has signed with UniCredit Bank a loan agreement for 50 million Euro, marking the first financing deal with a local commercial bank to fall under the framework of the European Fund for Strategic Investments (EFSI) in Romania.

2017-11-06 13:03:06

UniCredit Bank will use the loan to finance innovative or riskier projects by SMEs, Mid-Caps, start-ups and companies promoting employment in general and jobs for the young people in particular. UniCredit Bank thus becomes the first Romanian commercial bank to benefit from the support of the EU budget guarantee under the European Fund for Strategic Investments (EFSI), the financial pillar of the Investment Plan for Europe, also known as "Juncker Plan".

EIB Vice-President Andrew McDowell said: "The European Investment Bank activity in Romania is gaining traction. We are very happy to team up with UniCredit Bank, a long-standing local partner of the EIB Group, in our strong commitment for the growth of the local economy under the framework of the "Juncker Plan". That comes on top of our traditional financing activities and will give an additional boost to job-creation in this important EU country, by providing long-term, affordable financing to innovative SMEs and start-ups."

UniCredit Bank CEO, Rasvan Radu said: "UniCredit Bank is firmly committed in financing the real Romanian economy. In this context, the new loan agreement and our strong commitment in actively supporting our clients' investments will allow us to further facilitate the development of SMEs, Mid-Caps, start-ups and innovative companies in Romania across different economic sectors, providing easier access to finance at better pricing. A special focus will be in improving access to loan finance for innovative projects compliant to "InnovFin EU Finance for Innovators" initiative backed by Horizon 2020."