EUR 11 million guarantee to Romanian Guarantee Fund “BRD – Groupe Société Générale”

EIF has agreed to provide a EUR 11m counter-guarantee under the framework of the European Commission's "Multiannual Programme for Enterprise (MAP)" with the Romanian financial institution BRD Groupe Société Générale.

By entering into this agreement, the second in Romania following the deal signed with Raiffeisen Bank SA in February, EIF will provide further access to finance to SMEs through different points of access. Under the agreement, EIF will provide for a guarantee structure with full delegation to BRD Groupe Société Générale. The loans provided to SMEs will have loan maturities of minimum 36 months and finance investments.

Including BRD Groupe Société Générale, EIF's guarantee portfolio in the new Member States and the Accession Countries now totals some EUR 130m in guarantees signed in Bulgaria, The Czech Republic, Estonia, Latvia, Lithuania, Romania and Slovenia.