Eximbank set to co-finance EU funds

Eximbank is set to grant loans to co-finance projects carried out through European structural funds in a partnership with the National Authority for Scientific Research (ANCS). As a result, Eximbank will grant financing aimed at research projects. ANCS (which is a structural fund management unit in the research sector) will analyse files with regard to their compatibility with EU rules. The funds are destined for companies that seek to conduct research and development and innovation projects. Within the partnership, the bank will grant financing for firms that submit projects sanctioned by ANCS. “We can finance either the company’s own contribution to the project, or cover cash shortages until sums are released from structural funds, or even both,” says Carmen Radu, chairperson and chief executive at Eximbank. The bank will not set any limit on the loans, with the ceiling to be set depending on companies’ risk profiles. Radu explains that the partnership will cut red tape, because the bank is in charge of the financial analysis of the companies requesting the loans, while ANCS assesses the projects.