European Investment Bank lends 70 million euros to BRD for SME financing

The European Investment Bank (EIB) is lending 70 million euros to a unit of BRD Groupe Société Générale to increase financing for a range of businesses in Romania. The EIB loan to BRD Sogelease IFN SA is meant to benefit Romanian small and medium-sized enterprises (SMEs) and Mid-Caps.

The credit is the second part of a 120 million euros EIB loan agreement with BRD Sogelease IFN to provide financing to Romanian businesses that have limited access to bank lending. A fifth of the loan is earmarked for green projects. A first tranche of 50 million euros was announced in December 2023.

“Improving access to finance for small and medium-sized enterprises, the backbone of the European economy, is part of the EIB’s core mission. With this loan, we are helping Romanian companies access long-term financing on favourable terms,” said EIB Vice-President Ioannis Tsakiris. “Some of this financing will also be used for green investments, such as green mobility or improved energy efficiency, contributing to Romania’s national energy and climate goals, and ultimately, a more sustainable and resilient economy.”

“This collaboration with EIB is signalling our joint commitment to enhance financial solutions offered to local companies, in order to assist and support them in their development and transition to sustainable business models,” said Gabriel Mihai, Chief Executive Officer of BRD Sogelease IFN SA. “It is enriching us with know-how, and it fits into our mission to serve our SMEs and midcaps clients.”