The remaining funds are loans which have already been contracted by some large local banks, to finance banking products destinated exclusively for SMEs. The Chairman of CEC Bank, Radu Gratian Ghetea, said yesterday in a meeting of the Minister for SMEs and Romania's commercial representatives abroad, that “the fluidization of lending" is the key for unblocking the economy, and that lenders should be more concerned about granting loans to SMEs. Ghetea pointed to the European Bank for Reconstruction and Development (ERBD) and the European Investment Bank (EIB) as possible financing sources for re-launching lending. The state should provide additional capitalization to CEC Bank and Eximbank, as well as for the Guarantee and Counter-Guarantee Funds of loans for SMEs, in case commercial banks do not resume lending within one month, said the President of the Senate, Mircea Geoana. Minister for SMEs, Constantin Nita, said members of the government have not yet taken into consideration such a decision, especially since the ministry was only allocated half of its initially requested budget. EBRD already announced that it is analyzing the possibility of granting a loan of up to €100 million to Banca Comerciala Romana (BCR), destined for financing SMEs. Ghetea added that CEC Bank focused in the past few months on loans for SMEs, agriculture, and local public administration, worth RON 250 mln in December, RON 200 mln in January, and RON 347 mln in February. (S.C.)
