The partnership expands the capacity for local and regional financing while simultaneously strengthening the guarantee mechanism by reducing risks and ensuring faster access to sustainable financing, according to a statement from BT.
The BID guarantee value ranges between RON 5 million (€1 million) and RON 150 million (€30 million), with a maximum guarantee period of 15 years and a maximum guarantee percentage of up to 80%.
Nicolae Cinteză, Vice President of BID, said: "The convention is part of the framework through which the Investment and Development Bank, along with commercial banks, supports projects in areas such as: digitalisation, education, health, energy, public utilities, and access to European funds. For the next three years, the BID is making available a total guarantee ceiling worth RON 2.1 billion (€422.1 million)."
This is the second such convention signed by the BID, following the one concluded with CEC Bank.
The bank plans to sign similar conventions with other financial institutions interested in supporting the development of the Romanian economic environment in the coming period.
