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Govt. guarantees bank loans for large companies

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Romania's Government amended the functioning law of state-owned lender Eximbank to allow it to manage the state guarantees program for loans extended to large companies, Digi24 reported. 

This program, included in the Government's Investment and Economic Recovery Plan, is designed to facilitate working capital and investment loans for large companies, with a turnover bigger than RON 20 million (EUR 4 mln). The state will guarantee 80% of the value of loans granted under this program.

According to the head of the prime minister's office, Ionel Danca, the program, with a ceiling of RON 8 billion (EUR 1.65 bln), was approved by the European Commission.

The universe of companies addressed by the program includes 600 large corporations with an aggregated turnover of RON 580 billion (EUR 120 bln) that employ 1.7 million.

A similar program (IMM Invest) for small and medium-sized enterprises (SMEs) is already operational.

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