Raiffeisen Bank and Raiffeisen Leasing borrow EUR 80 million from Council of Europe Development Bank (CEB) to fund Romanian Small and Medium Enterprises and Public Sector Entities

Raiffeisen Bank and the Council of Europe Development Bank (CEB) signed a EUR 80 million funding agreement - EUR 50 million for Raiffeisen Bank Romania and EUR 30 million for the Raiffeisen Leasing subsidiary. Both lines will finance projects promoted by SMEs, with the purpose of job creation or preservation. Raiffeisen Bank can also finance investments made by local authorities and public companies with the purpose of improving living conditions in urban and rural areas.

"As the European social development bank, CEB is happy to work together with Raiffeisen in Romania to provide a boost to job creation and development of the country. CEB is committed to strengthening social cohesion and development in our member countries, a job which is essential in the current difficult economic circumstances”, stated CEB Vice-Governor Mikolaj Dowgielewicz.

"Raiffeisen Bank continues to be involved in sustaining the Romanian economy, in creating and preserving viable jobs. It is important in these difficult times to demonstrate that we can sustain the economy and, through these tailor-made financing solutions, we represent a vital support for the bank's customers - small and medium enterprises and public sector entities. Funds from this loan will become available starting December” said James Stewart, Vice President of Raiffeisen Bank.

The loans offered by Raiffeisen Bank and Raiffeisen Leasing from CEB funds will benefit from attractive pricing conditions and will be granted on medium and long term. CEB funds can be used in combination with EU funds or State Aid.