The European Investment Bank (EIB) is providing a EUR 75m loan to Banca Transilvania S.A., the second tranche of a EUR 150m loan, to finance projects promoted by small and medium-sized enterprises (SMEs), midcap companies and public entities in the areas of industry, services, agriculture and infrastructure in Romania.
The first tranche of the loan, made available to Banca Transilvania in October 2014, is being successfully allocated to improving the access of SMEs, midcap companies and public entities to long-term finance. The EU bank and Banca Transilvania are working together in this area to help revive the Romanian economy and encourage Romanian companies to make new investments, grow their businesses and create new jobs, whilst being able to rely on flexible long-term funding.
The loan is designed to support the employment of young people, a key priority of the EIB under its “Skills and Jobs – Investing for Youth” programme.
Tackling youth unemployment is a priority in Romania. In cooperation with Banca Transilvania, the EIB is providing additional incentives to beneficiary companies employing young people, offering training opportunities or cooperating with colleges, schools or universities to improve the employment prospects of young people.