Romania sets up new financial arrangements through the SME InitiativeJune 22, 2017
Hat: Romania sets up new financial arrangements through the SME Initiative
Funding Scheme: 2017-06-22
Pgm2014 2020: Yes
New agreements have been signed between the European Investment Bank (EIB) and two banks of Romania – Bancpost and Banca Transilvania – under the SME Initiative program. These agreements are expected to benefit 3,700 Romanian startups and SMEs across the country.
With a contribution of 100 million euro from the European Regional Development Fund (ERDF), the Romanian SME Initiative invests Cohesion policy funds in financial instruments that will raise 540 million euros to encourage the development of small businesses.
The SME Initiative entails an innovative change in the use of European Structural and Investment Funds (ESI Funds), combining the latter with EU central budget (resources from the Horizon 2020 Programme) and EIB Group funds.
Url description: European Investment Fund