Garanti BBVA and the European Investment Fund (EIF) have signed a strategic agreement to provide guarantees of a minimum of 30 million euros, to enhance Romanian companies` competitiveness and sustainability. The InvestEU guarantees will enable Garanti BBVA to facilitate a minimum of €42 million in financing for small and medium-sized enterprises (SMEs) across Romania, driving growth and supporting the country’s transition to a sustainable economy. Through this collaboration with EIF, Garanti BBVA is launching two new guarantee programs designed to address key challenges for Romanian enterprises. The SME Competitiveness Guarantee Program aims to increase access to financing and stimulate lending, which faced significant obstacles during and after the COVID-19 crisis. Meanwhile, the Sustainability program supports companies transitioning towards greener, more sustainable investments, which is essential to the sustainable transformation of Romania’s economy. “This partnership with the European Investment Fund marks an important step in Garanti BBVA’s mission to support Romanian companies in their effort toward increased competitiveness and sustainability. The financing opportunities we bring to the market with the InvestEU guarantee reflect our commitment to facilitating Romania’s economic growth while contributing to its transition to a greener economy. By improving access to capital and promoting sustainable projects, Garanti BBVA confirms its role as a reliable partner for Romanian businesses in every stage of their development”, said Bilge Demirer, Deputy General Manager, Enterprise Banking Area, Garanti BBVA Romania. In the framework of these programs, Garanti BBVA is focused on delivering advantageous financing solutions to Romanian businesses. Eligible companies will benefit from more advantageous terms, including access to larger loan amounts, extended financing periods, and preferential interest rates. These conditions are designed to facilitate access to finance and improve the competitiveness and sustainability of Romanian companies. Through the SME Competitiveness Guarantee Program, companies can expect a guarantee rate of 50% to 70%, depending on specific eligibility criteria, enabling Garanti BBVA to extend financing to companies with reduced collateral. The sustainability Guarantee Component, with a guarantee percentage of 70%, is exclusively dedicated to companies developing green and sustainable projects. The guarantee is backed by InvestEU, the European Union’s funding program and by Romania’s National Recovery and Resilience Plan (PNRR). The collaboration between Garanti BBVA and the EIF represents a strong effort to help Romanian businesses thrive in a challenging economic environment, opening pathways for long-term growth and resilience. Through the dual focus on competitiveness and sustainability, the bank aims to provide SMEs with the resources and incentives they need to stay competitive and embrace the green economy.
Camelia Ene, the former CEO of MOL Romania, has been appointed CEO of ROCA Industry, the Romanian holding company of construction materials manufacturers. Ionuț Bindea, who has been the CEO for almost three years, will serve as chairman of the board of directors of ROCA Industry. Furthermore, as Senior Investment Manager of ROCA Investments, he […]
The going-out options include a variety of exhibitions and a selection of David Lynch films. In Bucharest: Four masterpieces of David Lynch January 23 – January 26 Cinemateca Eforie runs a program that pays homage to American filmmaker David Lynch, who passed away last week. The films that will be screened are The Elephant Man, […]
Gold has been one of the most sought-after assets for centuries, and in the modern era, it has become a highly popular component of investment portfolios. A preferred asset for protection against economic risks, gold has delivered attractive long-term returns, increasing by approximately 8% per year over the past two decades. Since the end of […]
JTI Romania is the Top Employer for the 12th year in a row, being ranked third amongst 44 companies locally awarded, after an assessment conducted by the Top Employers Institute. The company was rated for about 20 criteria such as leadership, talent acquisition, on-boarding, digital HR, work environment, career development, learning, ethics & integrity, diversity, […]
Romanian defense minister Angel Tîlvăr stated that the contract for the Patriot system, which will replace the one ceded by Romania to Ukraine, is expected to be signed in February. The minister commended the decision of the United State government to approve the delivery of three Patriot systems to Romania. Raytheon stated it will collaborate […]
Romanian companies are entering 2025 with cautious optimism, focusing on managing risks and controlling costs, according to the Deloitte 2025 Romania CFO Survey conducted at the end of last year among approximately 130 Chief Financial Officers (CFOs). Most of the Romanian CFOs predict an increase in revenues for this year (58%), but their share has […]
