· Operation to support economic growth and create new opportunities for small businesses in Romanian · Out of the €50 million loan agreed, a €10 million envelope is earmarked for green investments The European Investment Bank (EIB) and BRD Sogelease IFN SA have signed a €50 million loan agreement, extending their support to Romanian businesses and the country’s economy. The collaboration aims to create new opportunities for small and medium-sized enterprises (SMEs) and midcaps, as well as to contribute to overall sustainable growth. The operation is an intermediated loan, meaning that BRD Sogelease will use EIB’s financing to facilitate new lending on more favorable terms for eligible clients. It is part of a larger approved operation that will provide favourable financing to small and medium businesses, and is reflecting the EIB's commitment to environmental sustainability, as 20% of the amount agreed is earmarked for green investment. Under the Green Gateway programme, the EIB Advisory will also be providing support to help originate and assess green investments. This will be facilitated through training on the use of the Green Eligibility Checker, a specially designed EIB tool for sustainable investment assessment. EIB advisory will also support BRD Sogelease staff to deepen their understanding of the EU’s regulatory framework for sustainable finance, EU Taxonomy and climate risk management. Kyriacos Kakouris, the EIB Vice-President, said: “With this credit line we reaffirm the EIB's commitment to sustainable projects in Romania, especially helping SMEs and midcap companies access long-term financing to be provided on favourable terms. I am confident that our related advisory will also help BRD Sogelease support the greening of Romanian businesses and thereby make the most of EIB lending." Frédéric Banco, CEO of BRD Sogelease IFN SA, added: "This collaboration represents a milestone for our clients, facilitating access to much-needed financing for the SMEs and midcaps’ projects." Background information The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. The EIB has worked in Romania since the early 1990s, improving regional cohesion, infrastructure and healthcare services, and supporting small and medium-sized enterprises, through 180 projects worth €17.78 billion. Romania is the largest beneficiary of EIB advisory support, with a wide range of services tailored to the needs of public and private clients across various sectors including road safety, education, health, climate action, decarbonisation, and the digital transition. About the Green Gateway programme Funded by the InvestEU Advisory Hub, the Green Gateway advisory program was established by the EIB to assist financial institutions in facilitating loans for climate change mitigation, adaptation, and environmental sustainability projects supported by EIBG financing. The Green Gateway advisory program proposes two areas of intervention: a web platform, and a bilateral advisory program. The online platform offers a green eligibility-check tool, called the Green Checker, and an e-library with guidelines and case studies on green investment criteria. About BRD Sogelease IFN SA BRD Sogelease IFN SA is the leasing subsidiary of BRD - Groupe Société Générale, the third largest commercial bank in Romania with total assets exceeding €15.5 billion, part of the Société Générale Group. BRD Sogelease is affiliated to the European network of Societe Generale Equipment Finance, the number one leasing group in Europe, with over €24 billion outstandings.
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IT Genetics, a company specializing in digitalizing services, aims to have its shares tradable at the Bucharest Stock Exchange by the end of this year, with the amount to be raised estimated at approximately EUR 2 million. The ITG group will be listed, not just IT Genetics, which is nevertheless the main pillar of the […]
