EBRD Expands Supply Chain Financing For Romanian Retail Sector
Date
12/21/2024 3:08:46 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, December 21. The European
Bank for Reconstruction and Development (EBRD) has partnered with
Banca Transilvania to expand the supply chain finance program for
Profi Rom Food SRL, a retail chain in Romania, Trend reports.
The EBRD will take on risk equivalent to 10 million euros in
local currency, enabling the program to grow by 20 million euros.
This marks the EBRD's first supply chain finance project in Romania
focused on strengthening domestic value chains.
Additionally, participating suppliers can benefit from the
EBRD's Advice for Small Businesses program and external consultant
expertise. These initiatives will support suppliers in adopting
green transition plans, integrating innovative solutions, and
setting Science Based Targets initiative (SBTi) commitments for
emissions reductions. Suppliers who publish SBTi commitments may
qualify for up to 25,000 euros in cash incentives through Horizon
Europe, the EU's funding program for research and innovation.
“The EBRD remains committed to fostering innovation and
sustainability within Romania's retail sector,” said Victoria
Zinchuk, EBRD Head of Romania.“By enhancing Profi's supply chain
finance program, we aim to empower SMEs, promote sustainable
practices, and create significant economic impact.”
To date, the EBRD has invested nearly 11.5 billion euros in
Romania, supporting private sector development, sustainability, and
innovation across 550 projects.
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