EBRD extends €20 million loan to Crédit Agricole Romania to support SMEs

11 / 09 / 2019

By Marwa Nassar - -

The European Bank for Reconstruction and Development will extend a €20 million loan in local currency to Crédit Agricole Romania to finance Romanian micro, small and medium-sized enterprises (MSMEs), a vital sector of Romania’s economy in terms of wealth and job creation.

The loan will also support Crédit Agricole Romania’s growth strategy and will help diversify the bank’s funding base, improving the currency and maturity structure of the balance sheet.

Crédit Agricole Romania was established in 2010, following the acquisition of Emporiki Bank, including its regional subsidiaries, by Group Crédit Agricole, the third largest banking group in Europe by assets. The bank provides a broad range of products and services and its main focus is on the SMEs active in the agribusiness segments.

The EBRD is a leading institutional investor in Romania and to date has invested over €8.3 billion in the country, primarily in the private sector.