Investment & Fund Management
the bank entered into a guarantee agreement with the European Investment
Full Credential Description
Libra Internet Bank faced challenges in providing adequate financing options to micro-enterprises in Romania, particularly for those lacking sufficient collateral to access traditional micro-finance. To address this issue, the bank entered into a guarantee agreement with the European Investment Fund (EIF) under the EU Programme for Employment and Social Innovation (EaSI). This partnership enabled Libra Internet Bank to offer loans totaling RON 100 million (approximately EUR 22 million) specifically aimed at micro-enterprises.
The tailored solution provided through the EaSI agreement included rapid analysis and approval of credit files, which significantly enhanced the bank's ability to serve micro-borrowers. This initiative not only increased the lending volumes available to micro-enterprises but also improved access to finance for businesses in both their start-up and development phases. As a result, the program aimed to support vulnerable groups and foster entrepreneurship by facilitating loans of up to EUR 25,000 for micro-enterprises and up to EUR 500,000 for social enterprises.
The collaboration with EIF allowed Libra Internet Bank to expand its offerings and develop affordable financing and guarantee products tailored to the needs of micro-enterprises, thereby contributing to the growth and sustainability of this vital segment of the Romanian economy.