90 million loan euro to Raiffeisen Factoring from EBRD

The European Bank for Reconstruction and Development has announced that they will be providing Raiffeisen Factoring a loan of around €90 million in order to provide financing to small- and medium-sized enterprises (SMEs). ‘Factoring’ will be used as the method of finance and this means that SMEs and corporates should be able to get hold of vital working capital. As the economy continues to recover, financing for SMEs is pivotal and this support should help the development of private sectors and factoring in Croatia.

As far as the Croatian market goes, Raiffeisen Factoring is one of the biggest names and has been developing different programs and products to support various clients for a number of years; there has been a particular focus on the smaller, less developed regions of the country. The €90 million loan will be important for continuing this support and keeping the Croatian economy on the road to recovery.

EBRD First Vice President, Phil Bennett, has said “SMEs are strong vehicles of the Croatian economy, contributing 55 per cent of total value added to the national economy and providing 67 per cent of total employment. We are united in our determination to strengthen Croatia’s SME sector and support the country’s growth. This new facility with Raiffeisen Factoring reinforces our strategic focus on this segment.”

Image Provided by; © Sauleancristian | Dreamstime.com - Raiffeisen Bank Bucharest International Marathon 2015 Photo


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