Since its admittance to the European Union in 2007, Romania has made significant economic progress. Despite the country's advances, costly fuel bills and rising prices take a significant toll on the populace. Corruption and red tape bureaucracy still hinder the country's businesses, yet a middle class has begun to emerge and Romania is making strides toward poverty alleviation.
HOPE in Romania
Because consumer credit is more readily available in Romania, the needs of HOPE's clients in this country are distinct. Instead of providing microloans, HOPE provides small and medium enterprise, or SME, loans to its clients. SME loans are designed for businesses that are not large enough to access business loans from commercial banks yet need more capital than a microloan or consumer credit could provide. HOPE Romania also provides intensive business training and helps businesses get loans from commercial banks through bank intermediation. HOPE's SME loans generate employment in Romania. HOPE believes that the SME sector will continue to grow in importance as a tool for poverty alleviation.
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Since its admittance to the European Union in 2007, Romania has made significant economic progress. Despite the country's advances, costly fuel bills and rising prices take a significant toll on the populace. Corruption and red tape bureaucracy still hinder the country's businesses, yet a middle class has begun to emerge and Romania is making strides toward poverty alleviation.
Because consumer credit is more readily available in Romania, the needs of HOPE's clients in this country are distinct. Instead of providing microloans, HOPE provides small and medium enterprise, or SME, loans to its clients. SME loans are designed for businesses that are not large enough to access business loans from commercial banks yet need more capital than a microloan or consumer credit could provide. HOPE Romania also provides intensive business training and helps businesses get loans from commercial banks through bank intermediation. HOPE's SME loans generate employment in Romania. HOPE believes that the SME sector will continue to grow in importance as a tool for poverty alleviation.
