Energy is a high development potential field and Romanian companies should approach more courageously the international projects especially considering the support they may have from EximBank, said Paul Ichim, Executive Vice president of EximBank, in an event dedicated to the energy industry, according to a press release released by energynomics.ro.

”There is still a scarcity of Romanian companies looking to invest or get involved in international projects even in the conditions that some of them have reached the full maturity on the local market and are now able to develop their operations abroad”, explained EximBank’s executive vice president, Paul Ichim.

According to the EximBank representative, ”in Romania, we see companies from other countries who come and are supported by the ECA (Export Credit Agency) in their country, like Austria, and who are implementing many projects in energy, and by the same model.”

”Supporting projects in the energy field represents a priority of EximBank, the bank’s policy on long term focusing on endorsing projects in the renewable energy line and initiatives aiming at increasing the energetic efficiency using non-reimbursable funds”, said, Paul Ichim.

”From our perspective, there is an extraordinary potential in this field and I do believe that more and more Romanian entrepreneurs should follow the lead of private companies active in energy that have opened the ways and invested in projects abroad with EximBank support”, explained the vice president of EximBank.

”EximBank is experienced in successful partnerships with companies active in this field and intends to further support such projects. Most recent partnerships are concluded with Romelectro, one of the biggest general contractors for energy projects, that has been granted by EximBank a financing facility amounting at 63 Million Lei, for a project in Egypt, as well as the one with Electrogrup, top player in the field of energy infrastructure, telecom and civil buildings consisting in a financial package of 11 Million Eur, for services export”, the press release said.

Also, EximBank has recently issued and insurance policy in the name of and on the account of Romanian state covering the non-payment risks associated with a 2.5 Million Euro export in Ukraine for Totalgaz Industrie, one of the leading local manufacturers for natural gas equipment and machinery for extrusion, transport and distribution.

The bank has developed complex integrated solutions for exporters by supporting the export activity since production stages, delivery up to cashing in the counter value of the exported goods by:

• Financing products – covering costs for goods production and delivery or for exported services;
• Guarantees – issued in the name of and on the account of Romanian State, reducing risks associated with financing and facilitating access to it;
• Insurance issued in the name of and on the account of Romanian State covering the cashing in of the exporters against the risks associated to foreign partners and target countries;
• Factoring;
• Trade finance adjusted to company specifics – Documentary Letter of Credit; Letter of Banking Guarantee ; Incasso; Documentary Bill of Payment ;
• Commercial information on business partners.

EximBank has been actively involved for almost 25 years in supporting and promoting the Romanian business environment by endorsing local companies’ projects.