The SME Initiative Romania

The SME Initiative - launched in Romania in October 2016 - is co-financed by Romania through the Operational Programme “SME Initiative”, the European Commission and the EIB Group - the European Investment Bank (EIB) and the European Investment Fund (EIF) - with EIF managing the scheme on behalf of the different contributors. The SME Initiative is a public-private partnership acting as catalyst for private investments and supporting economic growth and job creation.

To this end, it entails an innovative change in the use of European Structural and Investment Funds (ESIF), combining the latter with EU central budget (resources from the Horizon 2020 programme) and EIB Group funds. Through a risk-sharing mechanism, the EUR 100 million of ESIF resources made available by Romania, leveraged with commercial lending, are expected to generate more than EUR 540 million of new SME loans at favourable terms.

Update: An information note to financial intermediaries with regard to additional funds to be allocated and changes in transaction terms has been published on 23 October 2018. Check out the details here.