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Ten banks to join SME loan amnesty project

Ten banks to join SME loan amnesty project
18.10.2009, 20:14 10

Ten Romanian banks are interested in joining the loan amnestyprogramme for small and medium-sized enterprises (SMEs), which willenable companies to temporarily suspend paying their instalments orto extend the repayment period. The project has been presented atthe end of the summer by Mircea Geoana, chairman of the RomanianSenate and leader of the Social Democratic Party, and is based on amodel already adopted within the Italian banking system. Theproject was discussed this summer by Geoana and Radu Ghetea,chairman of the Romanian Banking Association, Florin Georgescu,first deputy governor of the NBR (National Bank of Romania), FlorinPogonaru, chairman of the Romanian Businesspeople Association andNicolae Danila, currently member of the NBR's Board of Governors."It appears ten banks will join this protocol, at least in a firststage. All banks with Italian capital have welcomed the proposal tojoin this protocol, because they have already accepted it at grouplevel, and there have been positive responses from other banks, aswell. The protocol will be signed by the end of October," saysTudor Totu, former Secretary of State in the cabinet of healthminister Ion Bazac, and the person in charge of this project withinthe Social Democratic Party (PSD). He says the protocol, which willbe concluded under the patronage of the National Bank and will alsobe signed by the Budget-Finance Committee of the Chamber ofDeputies remains open, with other banks able to join the listlater.

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