EBRD shares exposure on €40 million Banca Transilvania loan Beneficiary of loan is cornstarch producer Omnia Europe SA Loan will finance extension of Omnia factory for new waxy starch products Banca Transilvania (BT) is lending €40 million to Omnia Europe SA (Omnia Romania), a leading corn starch producer and owner of the largest starch factory in Romania and southeastern Europe. Half the loan amount, €20 million, will be guaranteed by the European Bank for Reconstruction and Development (EBRD), under the Risk-Sharing Facility (RSF) with Banca Transilvania. The financing will support the company in expanding its operations by establishing a new unit dedicated to producing waxy starch. Omnia Europe SA, based in Medgidia, Constanta County, is a producer of starch, maltodextrin and by-products, key ingredients for many products in the food, pharmaceutical, pulp and paper and chemical industries. It is a subsidiary of Omnia Nisasta Ticaret AS and part of the Turkish Tosmur Group, one of the largest producers of corn starch and derivatives products. The European Bank for Reconstruction and Development (EBRD) is using its Risk Sharing Framework (RSF) to support the expansion of businesses in its countries of operations and boost the lending capacity of local partner banks. “We are delighted to reinforce our commitment to the Romanian agribusiness sector by supporting the expansion of Omnia Group within the country. This transaction highlights the strong collaboration with Banca Transilvania and underscores the effectiveness of the Risk Sharing Framework in facilitating the growth ambitions of companies across EBRD’s Countries of Operations. Furthermore, this initiative is particularly significant as it focuses on processing agricultural commodities into higher-value products, contributing to Romania’s efforts to improve its food and agricultural trade balance” said Victoria Zinchuk, EBRD’s Head of Romania. The EBRD is a major institutional investor in Romania. To date it has invested almost €11.5 billion in 550 projects in the country.
President Nicușor Dan has nominated Senate president Ilie Bolojan, a leader of the National Liberal Party (PNL) and former interim president, for the prime minister seat. Dan said Bolojan is “the best person to carry out the needed adjustments in the state administration.” He pointed to Bolojan’s track record with reducing spending, and said he has […]
Balkanik Festival – Home of World Music, set to take place at Uranus Garden between September 5 and September 7, lines up this year artists who "celebrate that form of joy that does not ignore reality, but faces it with beauty, energy, and solidarity," the organizers said. The artists performing in September in Bucharest will […]
The mayor of Timișoara, Dominic Fritz, announced on Friday, June 20, that two new bridges over the Bega River will be built in the city. The bridges will be financed with EU-backed funds worth over RON 130 million. The bridges in question are the Solventul Bridge, which will connect Gării Street to Dâmbovița Boulevard and […]
A Sarmatian necropolis nearly 2,000 years old was discovered after archaeological excavations were carried out at the Mehala II site in the municipality of Timișoara, in western Romania. Researchers discovered 15 inhumation graves, most arranged in rectangular pits with rounded corners, although some no longer retain their original outline, having been disturbed by the passage […]
The George Enescu Philharmonic Orchestra will deliver on June 26 a concert marking Romania Day at the Osaka World Expo. Additionally, the Bucharest-based orchestra will present a series of other concerts and recitals, both within the Romanian Pavilion and outside, at Toyonara Hall in Osaka. The George Enescu Philharmonic Orchestra's concerts will be conducted by […]
Sphera Franchise Group, the largest food service group in Romania, has opened its first Cioccolatitaliani store in the seaside resort of Riccione, in Italy’s Rimini tourist area. This marks the official launch of Sphera Group’s development plan for the premium Italian brand of coffee, gelato, and pastry. Under the plan, it will open four locations […]
