The EBRD is extending a euro 20 million loan to BT Leasing to broaden access to finance for Romanian micro, small and medium-sized enterprises (MSMEs), especially those outside large metropolitan areas, the institution announced. BT Leasing will use the EBRD’s loan to finance new leases for local MSMEs, the backbone of the country’s economy.

“The EBRD is committed to supporting the development of the leasing market in Romania as part of its efforts to broaden access to finance for local companies. These new funds, channelled through our longstanding partner BT Leasing, are aimed at small businesses across the country where financing is needed most, in particular outside Bucharest and other large cities,” says Matteo Patrone, EBRD Regional Director for Romania and Bulgaria.

The new financing is the EBRD’s fourth loan for the firm, with cooperation now reaching euro 45 million.

“Through this new facility we intend to support the development of as many MSMEs in Romania as possible, the more so as financial leasing is the easiest form of financing for MSMEs. In the first four months of 2017 BT Leasing financed assets for a total amount of euro 41 million, a 27 per cent increase compared with the same period in 2016,” says Ionut Morar, general manager of BT Leasing.

The EBRD has invested close to euro 7.5 billion in the country to date in almost 400 projects.