OREANDA-NEWS.  The Black Sea Trade and Development Bank (BSTDB) announced a EUR 7 million loan to Patria Credit, Romania’s leading non-bank microfinance institution. The maturity of the loan is five years, with a grace period of one year.
 
Patria Credit will use the loan proceeds for on-lending to micro and small enterprises across Romania, including to businesses in remote areas of the country, where access to finance is limited.
 
“Enhancing access to affordable financing for small enterprises, particularly to those outside of major cities, is crucial for the development of the Romanian economy.  In the current economic setting, the BSTDB loan will improve confidence to the non-bank financial sector and contribute to the expansion and strengthening of financial services in Romania” said Mustafa Boran, BSTDB Vice President Banking following the signing in Bucharest.