IIB expands its investments in Romania, having signed a loan agreement with Romcab for EUR 15 million
The International Investment Bank today signed an agreement regarding a 3-year EUR 15 million credit line to Romcab S.A. — a Romanian manufacturer of cables, electric conductors, power cords and electric wiring. The document was signed by Deputy Chairman of the Board of the IIB, Vladimir Liventsev, and by Romcab’s CEO, Zoltan Prosszer.
The credit facility will be used to finance the main activities of the company, in particular, to purchase raw materials from various manufacturers, including those from other member states of the Bank. Thus, this transaction fully reflects IIB’s loan policy, which prioritizes support for small and medium-sized enterprises and trade relations between the Bank’s member states.
Loan to Romcab represents already IIB’s second transaction in Romania this year. The total amount of financing provided to Romanian companies by the Bank currently represents EUR 35 million. Therefore, Romania is becoming one of the most active directions for IIB’s investments, with a number of other transactions under review.
Earlier this year Romania — with the sixth largest share in the Bank’s capital — signed the new statutory documents of the IIB, having thus decisively confirmed its support for finalising the transformation of the IIB into a modern development institution.
Romcab S.A. — a Romanian company manufacturing cables, electric conductors, power cords and electric wiring, with the registered office in Targu Mures, Romania. It began its activity in 1996.