EximBank, Emporiki Bank Sign SME Financing Agreement

The Export - Import Bank of Romania EximBank S.A. and Emporiki Bank yesterday signed an agreement to facilitate the access of small- and medium-sized enterprises to financing, according to a press release. Within this partnership, EximBank will provide Emporiki Bank with guarantees and assurances necessary to secure financing for as many applicants as possible. The parties stated their commitment to encourage and focus on financing investment projects.

"The guarantee and assurance products offered by EximBank under this agreement are unique on the Romanian banking market and complement the offer of our partner, Emporiki bank," said Ionut Costea, President & CEO of EximBank. "Practically, we will guarantee the loans offered by Emporiki Bank to small- and medium-sized enterprises for the development and modernization of their business, as well as to various investors in priority sectors of the national economy and, last but not least, to exporters who seek financing for their exports," he added.

The guarantees issued by EximBank will complement the specific guarantees pledged by applicant businesses and cover up to 80% of the value of the loan. As for assurance, the bank focuses primarily on Romanian exporters to emergent markets. EximBank policies cover up to 85% of the risk of default by a foreign importer.

The Export-Import Bank of Romania EximBank S.A. is specialized in offering unique products on the Romanian banking system. The financing, co-financing, re-financing, assurance, re-assurance and guarantees are designed for projects aimed at the development of infrastructure, utilities of public importance, regional development and research-development. EximBank also supports projects focused on environment care, personnel training, the development of small- and medium-sized enterprises and international trading.