93,000 companies have benefited, so far, from financing through the IMM Invest program, starting on June 1, 2020, Dumitru Nancu, the general director of the National Credit Guarantee Fund for SMEs (FNGCIMM), declared during a conference on Tuesday."The amount that he (IMM Invest, ed. n.) infused into the economy amounts to 12 billion euros. I don't think that there has been such an infusion of capital in the economy, in the post-December period, and the degree default, i.e. non-performing loans, is sub-unitary. We are talking about over 90,000 loans. Some of them have reached maturity, those granted in 2020 on working capital, and at the moment the execution rate at the National Guarantee Fund is 0.56%. This execution is done from the venture capital fund," said Dumitru Nancu, at the Financial-Banking Market conference, organized by the Bursa newspaper.He expressed his hope that, until June 30, while the state aid scheme is valid, 100,000 beneficiaries will be reached."The risk fund collected 1.5 billion RON, from which non-performing loans worth 70 million RON were paid. It is a self-financing program and has a multiplication rate of 1 to 12. The last edition of the SME Invest program started in 30 April, with a budget of 8 billion RON. The request of the 18 financial institutions was 24 billion RON. The European Commission approved this state aid for only six member states, including Romania, for the companies that are affected by Russia's aggression against Ukraine. We hope to exhaust this ceiling of 8 billion RON by the end of May," said Dumitru Nancu.
Romanians purchased RON 1.49 billion (nearly EUR 300 million) under the last Fidelis issue this year, organised by the Treasury in December, with over two-thirds of the money being placed in euro-denominated debt and more than one-third of the total being placed in long-term 10-year euro-denominated debt with a 6.2% coupon attached, according to data […]
Environment minister Diana Buzoianu announced that the ministry she leads has launched the procedures for a feasibility study aimed at planting 380 hectares of forest shelterbelts in southern Romania, a region increasingly affected by desertification. According to the announcement, the project would result in more than 126 kilometers of tree lines planted along national roads. […]
Romanian president Nicușor Dan said Russia will remain a security threat to Europe even if the war in Ukraine ends in a peace agreement. Speaking after the Eastern Flank Summit in Helsinki, he stressed that European countries must stay calm but strengthen their defense capabilities through increased investment and closer coordination within NATO and the […]
Harta Literară (The Literary Map), a project highlighting real-world places featured in fiction works, will expand next year from Bucharest to Braşov and Iaşi after receiving funding from Romania's National Culture Fund (AFCN). Bucharest was the first city covered by the map, with more than 300 documented places, and 600 highlighted connections to classic and […]
As global competition for university places continues to rise, families are increasingly seeking schools that not only deliver strong academics but also provide the networks, counselling, and preparation needed for the world’s most selective universities. Through its partnership with Dukes Education, Verita International School has become one of Romania’s strongest pathways to top global universities, […]
Exim Banca Românească continues the savings campaign under which it pays attractive interest rates, above the market average, for new deposits in lei and euro, over 7 months: interest rates of up to 7.20% per year for lei and 2.50% per year for euro. The offer is available both for the PLUS deposit in lei, […]
