State aid Scheme Ukraine: Exim Banca Romaneasca finances Abatorul Peris with 48 Million lei
Bucharest, May, 30th 2023 – Exim Banca Romaneasca granted a loan for working capital in the amount of 48 Million lei to Abatorul Peris SA, the largest pork meat processing facility in the South-Eastern Romania, within the State Aid Scheme Ukraine, which the bank implements within the Romanian state mandate.
Under the State Aid Scheme, the financing with subsidized interest rate is granted in the name and account of the Romanian state, and it is meant to ensure liquidity and access to financing to companies that face difficulties in the context of Russia’s aggression against Ukraine. The loan granted to Abatorul Peris is intended to finance the current activity of the company and to support the increase of the added value for the Romanian products.
“This loan facility is a natural response from Exim Banca Romaneasca, that positions itself as a development partner for the companies , meeting their expectations to access effective financial instruments to minimize theeffects on their business activity. The war in Ukraine has significantly impacted the business environment, including our agriculture, making it necessary to implement special financial support measures, such as the state aid scheme that Exim Banca Romaneasca is carrying out. The financing we grant under this program allow local companies to keep active the production chains, infusing working capital, but also enabling them to continue the investment plans, thus being a valuable resource to be considered”, said Traian Halalai, Executive President of Exim Banca Romaneasca.
The company Abatorul Peris SA is the largest processing facility of pigs and pork meat in South-Eastern Romania and owns one of the most modern production facilities, with a processing capacity of 500,000 heads annually, located in Niculesti, Dambovita County,. The economic context impacted by the conflict in Ukraine represented a challenge also for Abatorul Peris, affecting the current activity of the company.
“The financing we have accessed from Exim Banca Romaneasca supports us at in a very important moment for the company and will be used to carry out our activity in optimal conditions. We are confident that, just as we have managed to face all the challenges in the last three years – the COVID-19 pandemic, swine fever, the energy crisis – we will be able to overcome the implications that the war in Ukraine induced – disruptive supply chains and significant and unexpected increases in raw material prices. The difficult conditions in which we have built and managed the company’s lines of business allowed us to quickly adapt to the continuous and fast evolution of the economic environment and to continue our activity by focusing on streamlining the activity with the help of a solid financial partner”, said Bogdan Grama, General Manager of Abatorul Peris.
The State aid scheme Ukraine that Exim Banca Romaneasca implements in the name and on the account of the Romanian state, is addressed to large companies and SMEs with a turnover of more than 20 million lei that can access investment loans and loans for working capital, at subsidized interest rates, as well as state guarantees that cover up to 90% of the investment loans and loans for working capital granted by commercial banks, as new exposures. The financing and guarantees are granted until the deadline for signing the contractual documentation that will be permanently updated on the website of Exim Banca Romaneasca, but not later than 31.12.2023.
About Abatorul Peris
The company was founded in 2019, with the purpose of processing and selling pork meat for the supply of the capital and the South-Eastern area of the country. In recent years, the company has invested over 20 million Euros in the refurbishment and in the increase of the production capacity and has become one of the largest pork meat processing units in Romania. The company’s products are sold in large store chains, as well as in its own network of 25 meat stores under the brand “Peris”. Abatorul Peris has over 400 employees, and in 2021 it had a turnover of about 70 million euros.
About Exim Banca Romaneasca
Exim Banca Romaneasca is a universal 100% Romanian bank, ranked among the top 10 largest financial institutions by assets. The bank offers its clients, both individuals and corporate, a wide range of quality products and services, tailored to their needs. Exim Banca Romaneasca operates a territorial network of 83 branches for private persons and micro-enterprises and 26 corporate units dedicated exclusively to the corporate segment, a network that allows the bank to be close to the retail and corporate clientele and to implement various Romanian and European development programs. Aside of the specific components of an universal bank, Exim Banca Romaneasca acts as an agent of the state on the guarantee and insurance market, being one of the instruments through which the public funds, made available by the Romanian state, support the sustainable development of the economy.