The Romanian Commercial Bank (BCR) and the European Investment Bank (EIB) signed an agreement for the implementation of the PNRR portfolio guarantee, through which BCR will grant loans of up to 200 million euros to companies with over 500 employees.
Through the BCR, companies will be able to access credits worth up to 25 million EURO (or equivalent in lei), guaranteed in a maximum proportion of 80% by the EIB, for investment projects and to support the working capital necessary for their implementation. The agreement supports projects that advance the green and digital transition, but also the strengthening of economic and social cohesion, being a key tool within the NextGenerationEU initiative.
“BCR’s priority is to support and finance investments in transformational projects for Romania, aimed at the modernization and development of the infrastructure, but also the resilience of the economy. We are happy to be partners in this agreement with the European Investment Bank, which helps to support structural reforms and investments. We are talking about impact projects in the long-term sustainable development and economic stability of Romania, which support the balancing of regional development and provide fair access to economic opportunities”, said Bogdan Cernescu, Managing Director, Head of Corporate Banking BCR.
Projects eligible for BCR financing with partial EIB guarantee:
Infrastructure projects – aimed at the development and modernization of transport, energy, water and sewage infrastructure, as well as digital infrastructure; Environmental and sustainability projects – through investments in renewable energy, energy efficiency, ecological projects and other initiatives that contribute to environmental protection; Digitization and innovation projects – by supporting automation, digitization and technological innovation projects in various economic sectors; Education and health projects – through the development of educational and health infrastructure, as well as for other initiatives in the social field
The agreement for the portfolio guarantee is in addition to a total contribution of 1.4 billion euros that the EIB has in the implementation of PNRR projects in Romania. Until now, the support provided by the EIB through the PNRR was for the co-financing of two highways – A3 and A7 – in the country.
