Romanian Banks Have Enough Funds, Must Co-Finance EU Projs - Fin Min

Romania’s banking sector has plenty of funds and lenders will have to aim at giving loans to support European funds drawing, as the state won't sell as many treasuries as in 2009, Finance Minister Sebastian Vladescu said Friday.

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"The banking sector currently has more liquidity than it needs," Vladescu said during a seminar organized by Ziarul Financiar business newspaper.

He said banks will be forced to focus more on financing companies as the Finance Ministry will be more active on international markets and will borrow less from the local market in 2010.

One of the sectors that will attract lenders is the co-financing of European projects, but not all clients are eligible, Vladescu also said.

In 2009, the ministry sold state treasuries worth 64.7 billion lei (EUR1=RON4.0929), five-fold higher from RON12.5 billion a year earlier.

Since the beginning of the year, the ministry attracted RON8.97 billion by selling treasuries and plans to obtain RON12.4 billion by end-March.

On the other hand, the ministry will start next week a roadshow to sell Eurobonds worth EUR1 billion.

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