Loan guarantees for SMEs worth 163 million RON in 20 years, 45pct between 2020-2022

The National Credit Guarantee Fund for Small and Medium-Sized Enterprises (FNGCIMM) provided guarantees worth 163 million RON in 20 years of activity, of which 45pct between 2020-2022, Director General of the Fund Dumitru Nancu told a relevant conference on Tuesday.

"As of 2020, the National Credit Guarantee Fund was basically the main support for crediting the real economy. I want to tell you that from 2002, when the Fund was established, until now, 461,817 guarantees have been granted, of which 111,000 only in 2020 until now. Thus, practically a fourth of these guarantees were given in the three years of activity. Moreover, in terms of value, we reached the value of 163 billion RON guaranteed in this period, of which almost 45pct, namely half of the values guaranteed by the National Fund were in this 2020 - 2022 period, therefore, in three years we gave guarantees as half of the 20 years of activity," Dumitru Nancu stated at the conference called "Productive Romanian money - financing the private economy," an event organized by cursdeguvernare.ro.

He stated that in this period, the Fund became the main financier for SMEs and achieved the largest private partnership between financial and banking institutions.

The General Director of the FNGCIMM said that this year the European Commission approved the extension of the IMM Invest Plus Programme until 31 December 2025.

Moreover, he said that the Fund helped to increase the bankability of companies, from 1 in 7 SMEs in 2020 to 1 in 2 SMEs, that were able to obtain financing in 2022.

Since the beginning of the IMM Invest Romania Programme, 57,730 loans have been granted, and the value of the financing provided by the 21 financial-banking institutions is 41 billion RON. The value of the guarantee paid by the Fund is 33 billion RON and the effort of the Romanian state was 1.4 billion RON.

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Regarding the non-performing loans, Dumitru Nancu mentioned that there are 155 payments worth 47 million RON.

"In respect to the IMM Invest Plus programme, we hope that on 15 February, we can have all the agreements, let's say, with the financial-banking institutions signed. The order is on the approval circuit. Practically, tomorrow we hope to publish it in the Official Journal. It is not on a first-come, first-served basis. It is a digitized programme, we say, 90pct because between us and the financial-banking institutions everything is sent through our applications. It is the first time that we open the programme in the beginning of the year and it is the first time when the European Commission grants us an extension for one year compared to the other temporary framework when the extension was done every 6 months," Dumitru Nancu stated. AGERPRES