THE "EUROPEAN FUNDS" CONFERENCE - 6TH EDITION / CARMEN ARHIP, BRD: "Demand for loans from SMEs is not as high as people think"

A.V. (Translated by Cosmin Ghidoveanu)
Ziarul BURSA #English Section / 18 iunie 2014

"Demand for loans from SMEs is not as high as people think"

BRD has made it its goal to continue its support for increasing the degree of absorption of European funds, which represent an important method for financing investments, Mrs. Carmen Arhip, head of the department of European Fund of BRD said yesterday.

Carmen Arhip reminded that in the 2207-2013 programming period, BRD conducted the EUROBRD program, dedicated to supporting the projects financed using European funds, and its beneficiaries included SMEs, farmers, fish-farmers, local public authorities, major corporate clients.

"Demand for loans from SMEs is not as high as people think", Mrs. Arhip warned. "Things are hard for companies, that don't dare make investments, as well as for banks, because of non-performing loans caused by the crisis".

Mrs. did however, discuss the benefits of implementing projects using European financing: the optimization of the manufacturing cost / sale price ratio; increasing the production capability, and the possibility to increase market share, respectively; improving the qualitative parameters of the products; eliminating environmental deficiencies; the possibility to develop some innovation activities (the creation of new products); branding.

The BRD representative also said that for the 2014-2020 programming period, the possible roles which the banking system might play in supporting the attracting of European funds are: the pre- and co-financing of projects; the validation/confirmation of the bankability of projects; the management of the revolving grant scheme; the financial intermediation for financial instruments, intermediation in certain areas, and acting as a payment agency.

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