EIF and Patria Bank, first agreement in Romania under InvestEU Capacity Building Investment Product

The European Investment Fund (EIF) and Patria Bank signed the first agreement in Romania within the InvestEU Capacity Building Investment Product, the value of the loan contract being 5 million euros, according to a press release from the banks.

"In difficult times, it is often the smallest players in the economy who struggle the most. This new agreement between Patria Bank and EIF builds on our excellent long-term cooperation that began more than 10 years ago. Until currently, more than 6,500 low-income clients who usually struggle to obtain traditional loans have been able to access financing thanks to our joint support. The new subordinated loan supported by InvestEU will boost Patria Bank's institutional capabilities and support the bank in its mission to facilitate financial and social inclusion in Romania," said Marjut Falkstedt, general director of the EIF, Agerpres informs.

The transaction for a subordinated level II loan, supported by Invest EU, will contribute to the consolidation of Patria Bank's capital position, thus facilitating its continued growth and development, with the ultimate goal of improving access to financing for micro-entrepreneurs in rural and small urban areas from Romania. This is the first EIF transaction signed within the InvestEU investment product for capacity building.

"We are happy to expand our collaboration with EIF, which will further support us to help clients and continue our mission to facilitate access to banking and financial services for as many local entrepreneurs as possible. Looking at our long-term partnership with EIF, we strongly believe that the portfolio of guarantee products is a real support for all micro-enterprises (through our EASI product we have offered more than 6,500 loans) and with this financial instrument we will continue to play an active role in the local market and contribute to the stability of the economy of Romania," said Burak Yildiran, general director of Patria Bank.

Patria Bank is a Romanian bank dedicated to increasing the level of banking in Romania and supporting entrepreneurs and local businesses. Listed on the Bucharest Stock Exchange, Patria Bank has a national physical presence and offers 100% online banking products and services to all Romanians, wherever they are.