IEB may finance Raiffeisen with 100 million eurosPublish date: 22-11-2007
The European Investment Bank (IEB) may grant a loan of up to 100 million euros to Raiffeisen Zentralbank österreich and Raiffeisen International Bank-Holding,the funds to be used to finance project in Romania, Austria and Hungary. Thus, Raiffeisen Zentralbank österreich would be granted 20 million euros, and Raiffeisen International Bank-Holding 80 million euros, reads an IEB announcement.
The funds will be used to finance projects of the medium-sized companies. The total value of the project is 200 million euros. Raiffeisen International has been present in Romanaia since 1998, through Raiffeisen Bank, which merged in 2002 with Banca Agricola, purchased by the Austrian group in July 2001. The loans of the Euroepan Investment Bank are present in all the economic sectors, from the base infrastructure to industry and services, including support for the small and medium-sized companies, through the national financial bodies.
From 1990, EIB loans in Romania have amounted to almost 5 billion euros, dedicated to the financing of investment projects relevant for meeting the EU accession criteria. The financing of the projects that contribute to the economic progress in the EU assisted areas remains EIB's basic activity.
The bank aims at allocating 40-45% of its total loans within the European Union to the priority regions of the regional policy. Romania's whole territory is divided into regions that meet the conditions required by EIB loan grants, as well as for allocations from the structural and cohesion funds of the European Union. Thus, all the projects of the bank in Romania meet the objectives of economic and social cohesion, and the bank involves in supporting projects all over the country.
The bank support is aimed at infrastructure and other projects in Bucharest, but also in the rest of Romania's territory.
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