Bucharest, Romania, December 23, 2010—IFC,
a member of the World Bank Group, is providing a €58 million loan to Bancpost
S.A. that will enable the bank to extend more loans to micro, small, and
medium enterprises in Romania and help speed economic recovery.
Bancopost S.A. is a subsidiary of EFG Eurobank Ergasias S.A. in Greece.
IFC’s support to EFG subsidiaries in Southeast Europe is part of the Joint
International Financial Institution Action Plan launched in February 2009.
In March 2010, Bancpost S.A. joined the IFC Global Trade Finance Program
as an issuing bank to expand its trade finance operations as Romania rebounds
from the global financial crisis.
“A year ago, Eurobank EFG Group, together with international financial
institutions, committed to support the economies of the region through
the Vienna initiative,” said Giorgio Pradelli, General Manager of Eurobank
EFG Group and Head of International Activities. “We are pleased to be
collaborating with IFC once again to reinforce business growth in Romania.”
“The loan signed today with Bancpost S.A. will help strengthen our cooperation
and ensure a continuous flow of credit to smaller companies at a time when
businesses continue to face difficulties in obtaining funding for their
development,” said Dimitris Tsitsiragos, IFC Director for Middle East,
North Africa, and Southern Europe. “Our partnership with EFG Group demonstrates
our continuing commitment to the Romanian economy.”
IFC is also providing a loan of €38 million to Eurobank EFG a.d. Beograd,
an EFG subsidiary in Serbia.
Under the Joint International Financial Institution Action Plan, the World
Bank Group, including IFC; the EBRD; and the European Investment Bank pledged
to provide €24.5 billion over two years to support the economies of Eastern
Europe through the banking sector. The financial support of these institutions
is exceeding the initial target, as a total of €27 billion had been committed
as of end-August 2010.
IFC, a member of the World Bank Group, is the largest global development
institution focused on the private sector in developing countries. We create
opportunity for people to escape poverty and improve their lives. We do
so by providing financing to help businesses employ more people and supply
essential services, by mobilizing capital from others, and by delivering
advisory services to ensure sustainable development. In a time of global
economic uncertainty, our new investments climbed to a record $18 billion
in fiscal 2010. For more information, visit www.ifc.org.
To learn more about Bancpost S.A., visit: www.bancpost.ro.