romania

Romanian bank Bancpost has signed a financing agreement with Traian Vuia International Airport in Timisoara.

According to Business Review, the bank has extended a €2m loan for the next three years to the airport to cover its working capital.

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The bank won the contract through a financing tender organised by the airport.

"This agreement reiterates the commitment of Bancpost to support the key sectors of Romanian economy…"

Bancpost corporate banking executive manager Vlad Micu said: "This agreement reiterates the commitment of Bancpost to support the key sectors of Romanian economy, such as transportation, infrastructure, agribusiness, IT, telecom, production and export.

"The companies operating in these industries generate added value and have a high development potential and Bancpost has the availability and necessary means to actively participate in their development by covering various needs of financial banking products."

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The Traian Vuia Airport is the third largest Romanian airport by passenger numbers and the second largest in terms of technical equipments.

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Traian Vuia Airport general manager Iulian Daniel Idolu said: "The partnership with Bancpost will support the current activity of the airport for the next three years, a development period during which we proposed ourselves ambitious objectives such as the diversification of agreements with airline companies, the increase of the number of passengers, the opening of new routes and investments in infrastructure.

"This year we plan to draw up the necessary documentations for the development of intermodal freight transport, as well as the extension of the cargo hall. Thus, the credit line contracted will allow us to continue the current activity, to optimise costs and to focus on the implementation of development strategy to successfully achieve the set objectives."

Image: Romania’s "Traian Vuia" International airport in Timisoara. Photo: courtesy of Turbojet.