Investment & Fund Management

The EIF and Banca Transilvania signed a EUR 7.5 million loan agreement aimed at supporting micro-enterprises and self-employed entrepreneurs in Romania under the European Progress Microfinance Facility. This initiative, funded by the European Commission and the European Investment Bank, allows Banca Transilvania to provide a total of up to EUR 15 million to micro-entrepreneurs across Romania, focusing particularly on self-employed individuals.

This agreement is expected to facilitate easier access to finance for approximately 1,500 Romanian micro-enterprises, thereby encouraging entrepreneurship in the region. Banca Transilvania, known as the Bank for Entrepreneurial People, will enhance its lending activities to small and micro-enterprises, thus directly addressing the financing gap faced by these businesses. The European Progress Microfinance Facility aims to increase access to finance for micro-entrepreneurs, especially those with limited access to conventional credit markets, including female, young, and minority entrepreneurs.

Since its inception in 2010, the Progress Microfinance initiative has signed commitments totaling EUR 74.2 million to benefit EU micro-borrowers, with Banca Transilvania marking the 18th transaction under this facility. This collaboration not only supports the growth of micro-enterprises in Romania but also aligns with the EIF's mission to foster entrepreneurship and innovation across Europe.