The European Investment Fund (EIF) has signed agreements with five banks to support Romania’s small and medium-sized enterprises (SMEs). The series of uncapped direct guarantees totalling €1 billion is backed by the InvestEU Member State Compartment in Romania and the Recovery and Resilience Facility Romania (RRF RO) and represents an ambitious venture aimed at enhancing sustainability and competitiveness for businesses across the country. The banks, Banca Comerciala Romana, Banca Transilvania, CEC Bank, Raiffeisen Bank and ProCredit Bank are well-known EIF partners, having successfully implemented various EIF mandates in the past, such as the SME Initiative Romania (Initiativa pentru IMM-uri). Thanks to the Sustainability Guarantee the partner banks will be able to further support a green and sustainable transformation of the economy, and finance environmentally-friendly, green and inclusive investments of the end beneficiaries. The SME Competitiveness Guarantee will enable the partner banks to facilitate access to finance for a broader spectrum of companies and industries, with loan terms which would not be offered in the absence of the guarantee. “We’ve been working hard with the Romanian government and the European Commission to make sure that Romanian businesses can get the support that they need during these difficult times. Today’s five agreements will translate those efforts into real access to finance on the ground, helping SMEs pursue their growth ambitions, driving economic progress and fostering a greener future,” said EIF Deputy Chief Executive Roger Havenith. With financing available in both RON and EUR, this endeavour will bolster cohesion regions in Romania, fostering business growth and expansion, supporting value chains, sustainable infrastructure products and services, renewable energy and energy efficiency, and clean transport, while propping up the Romanian financial ecosystem. The EIF guarantee enables its partner banks to offer improved financing terms such as lower interest rates, reduced collateral requirements and reduced down-payment requirements for investment loans. Moreover, thanks to the EIF guarantee, banks can offer longer maturities and increased financing volumes and support excluded segments such as start-ups, which would not have been targeted without the guarantee. The uncapped direct guarantees are part of the InvestEU portfolio guarantee products under the InvestEU Member State Compartment in Romania. Funded through Romania’s Recovery and Resilience Fund, this initiative comprises two vital components: the RRF RO SME Competitiveness Guarantee and the RRF RO Sustainability Guarantee. These programmes are pivotal in advancing Romanian businesses’ competitiveness and steering the nation towards sustainable economic growth.
Two Romanians were arrested during Sunday night, May 11, after robbing empty houses in the evacuated mountain village of Brienz located in the Swiss canton of Graubünden. The village had been evacuated since November due to rock falls. The locality was, however, monitored by the authorities to prevent break-ins. The would-be thieves apparently tried to […]
The European Bank for Reconstruction and Development, or EBRD, has revised its estimates regarding the evolution of the Romanian economy in 2025 downward to 1.6%. The bank expects Romania’s GDP to grow 0.2% less than the 1.8% estimate made in February, and to increase by 2.4% in 2026. Romania's GDP growth slowed to 0.8% in […]
During a meeting on Monday, May 12, the Cluj-Napoca Local Council approved a draft resolution that imposes smoking restrictions in several public spaces in the city, including public transport stations, parks, and sports facilities. The resolution was adopted with 22 votes in favor and 3 abstentions, and will come into effect 90 days from the […]
An internal survey by Romanian Business Leaders, which does not have national representativeness but was answered by 417 entrepreneurs, shows that 62% of entrepreneurs expect to have to make layoffs, while a third expect the number of employees to remain the same. The expected layoffs are directly connected to the possibility of Romania choosing a […]
Romanian Istvan Kovacs will be the main referee for the UEFA Champions League final between Paris St-Germain and Inter Milan, which will be played on May 31 in Munich. The match will be Kovacs’ third European final in the last 4 years. The 40-year-old referee has previously officiated the UEFA Europa Conference League final in […]
Over 70 museums across Romania will open their doors after hours for the 21st edition of Night of Museums, one of the country's most anticipated cultural events. Held on the night of May 17, the event offers visitors a unique opportunity to explore exhibitions, installations, and creative activities in an unconventional, late-night setting. From major […]
