EBRD to fund post-privatisation

The European Bank for Reconstruction and Development (EBRD) is willing to finance those investors that took over companies from the Privatisation Authority (APAPS) and have encountered difficulties in completing the pledged investments. The bank is to grant them loans worth at least 15 million euros for each project. APAPS will provide the EBRD with a list of the companies monitored by the institution, all in their post-privatisation stages. According to Privatisation Authority officials, the loans will help those that bought companies from the Romanian State to actually complete the investment programmes, thus avoiding the repossession of the respective companies by the State. “The financing will be worth at least 15 million euros for each project and will be available both to foreign and to Romanian investors, enabling them to fulfil their projects,” APAPS said. ZF