CREDIT GUARANTEE FUND RESTARTED PARTNERSHIP WITH MOBIASBANCA, VICTORIABANK AND FINCOMBANK

The Credit Guarantee Fund (CGF), managed by the Organization for the Development of Small and Medium Enterprises (ODIMM), has relaunched partnerships with banks.

ODIMM told Infotag that the matter concerns Mobiasbanca - OTP Group, Victoriabank and Fincombank. New cooperation contracts have been signed with them.

Director Iulia Costin welcomed partnership with banks.

"Our role is to support small and medium enterprises and to cooperate with banks. Involving responsible institutions in the business development process will help ensure economic growth," she said.

The Credit Guarantee Fund of ODIMM is in the process of re-establishing cooperation with all the partners in the banking sector as a result of improved issuance, monitoring and execution of financial guarantees. After the National Bank recognized the guarantees issued by ODIMM as a means of reducing credit risk, the Organization's guarantee became more attractive for banks and accessible to small and medium-sized businesses.

Through the Fund, 416 guarantees were provided for 156.3 million lei, which contributed to the provision of loans for 461.1 million lei and led to investments in the economy for 678.7 million lei.