Romania
Global Communities has been working in Romania since 1994 to enhance the competitiveness of the business community and connect entrepreneurs and homeowners with access to credit.
Global Communities works to strengthen the legal and regulatory environment for Romanian micro, small, and medium-sized enterprises, unlocking competitiveness in vital sectors such as tourism, information technology and communication.
Vitas Romania serves local entrepreneurs and homeowners by providing financing loans traditional banks won’t take on. By connecting these businesses to the credit they need, our work drives growth and bolsters a competitive market economy.
Current Programs
Fueling Job Creation with Fair Financing
Vitas Romania (Vitas IFN S.A.) is a registered Romanian financial institution first established as a program of Global Communities in 1996. Vitas Romania focuses on providing financing to homeowners, microenterprises, and small and medium-sized companies, including for improvements to increase energy efficiency. Vitas Romania operates ten branches in Western and Central Romania.
It has worked with more than 50 non-governmental organizations, member-based business service organizations, and Chambers of Commerce. Vitas Romania’s current portfolio serves 2,019 clients who have loans outstanding worth $31 million.
Impact
10,000+
entrepreneurs supported since 1996