The International Finance Corporation (IFC), the investment division of the World Bank, could grant another credit in RON to a domestic bank in the near future. At the beginning of this week, the institution signed the contract for a loan in RON equivalent to 26 million dollars (19.5 million euros) for Credit Europe Bank. The funding, intended to sustain lending to SMEs, is the first funding granted by the IFC in RON on the Romanian market. "We are hoping that this week, or within the next few days, we will sign the contract for another loan, also in RON, with another bank," said Ana Maria Mihaescu, head of the IFC mission in Romania. She added that the launch of bonds in RON by the IFC was followed by similar moves conducted by other institutions and voiced her hope that this would also happen for RON denominated credits. Last summer, the World Bank sold bonds in RON worth 525 million RON in Bucharest. The bonds, with a three-year maturity, are the first to be issued in RON on the local market by an AAA-rated supranational institution.
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