ADVERTISEMENT

EFSE lending EUR 7 mln to BT Microfinantare to support Romanian MSEs

Food

Photo by Marian Weyo/Shutterstock.com

The European Fund for Southeast Europe (EFSE) said it has provided a loan in lei equivalent to EUR 7 million to BT Microfinantare to expand access to local currency finance for micro and small enterprises (MSEs) in Romania.

Photo by Marian Weyo/Shutterstock.com

BT Microfinantare, part of Banca Transilvania financial group (BT), is exclusively focused on financing MSEs, a still largely underserved segment in Romania, but a key contributor to employment and economic growth in the country, EFSE said in a press release on January 9.

EFSE was initiated by German development bank KfW with the financial support of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission.

It aims to foster economic development and prosperity in Albania, Armenia, Azerbaijan, Belarus, Bosnia, Bulgaria, Croatia, North Macedonia, Kosovo, Georgia, Moldova, Montenegro, Romania, Serbia, Ukraine and Turkey, EFSE says.

ADVERTISEMENT

IMF raises Hungary 2021 GDP growth forecast to 7.6% Analysis

IMF raises Hungary 2021 GDP growth forecast to 7.6%

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.