Summary of Proposed Investment
Project Number
10031
Company Name
BANCA ROMANEASCA SA
Date SPI Disclosed
May 26, 2000
Country
Romania
Industry
Financial Markets
Projected Board Date
Jun 27, 2000
Status
Completed
Sector
Commercial Banking - General
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : Aug 7, 2000
Signed : Apr 2, 2001
Invested : Jun 12, 2001
Project Description
Banca Romaneasca is among the smaller banks in the Romanian banking market and aimed at servicing SMEs. The bank will receive broad technical assistance (TA) from a first class reputable Dutch bank, with a view to transform Banca Romaneasca into a sustainable, competitive financial institution. The TA will strengthen the bank''s banking skills and term-lending expertise. By providing a credit line to a local, second-tier bank to be on-lent to private SMEs, IFC will support the Romanian SME sector. In this case, IFC will facilitate SMEs'' access to term financing, which is scarce in Romania. The ultimate goal of the project is to create a viable banking institution and creditworthy private enterprises, which could eventually become attractive opportunities for foreign direct investment.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
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