May 5 (SeeNews) - Raiffeisen Bank plans to finance 100 Romanian startups with 5 million euro ($6 million) this year, it said on Wednesday.
The financing will help companies develop their business and invest in innovation, Raiffeisen Bank said in a press release.
"During this period, marked by uncertainties and instability, entrepreneurs are looking for funding and mentoring opportunities in the market," Raiffeisen Bank vice president of retail department Vladimir Kalinov said.
Each startup can receive up to 50,000 euro within the programme.
The financing will be provided through the lender's 'Factory by Raiffeisen Bank' programme. During the first three editions of the programme, over 200 startups received over 8 million euro in financing.
Raifeissen Bank serves over 2.2 million clients, 92,000 small and medium-sized companies and 5,700 big companies in Romania.
($=0.8326 euro)
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