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.
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Romania’s president Nicuşor Dan signed 96 decrees approving the retirement of magistrates on August 1, with most leaving the judiciary immediately and the remainder scheduled to retire on September 1, Cursdeguvernare.ro reported. Among those stepping down is Corina Corbu, President of the High Court of Cassation and Justice (ICCJ). The wave of retirements...
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Raiffeisen Bank has cut its projection for Romania’s economic growth in 2025 to 0.7%, citing the impact of a challenging global trading environment and slowing international demand, the Austrian lender said in its semi-annual report. The bank now expects Romania’s gross domestic product (GDP) to grow by 1.3% in 2026,
The system of pensions paid to military personnel should be changed gradually until 2035 to avoid losing personnel, minister of defence Ionuț Moșteanu said in a Digi24 interview, implying that the European Commission...
Romanian finance minister Alexandru Nazare, in an interview given to Digi24, said that the payment of pensions and wages in the budgetary sector depends on the budget amendment that must earmark supplementary funds to these categories, Cursdeguvernare.ro reported. Romania...
