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January 17, 2021
Valahia.News
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Economy Finance Romanian News

CEC Bank Receives Financing of 50 Million Euros

CEC Bank has concluded a new financing agreement with the European Investment Bank (EIB), thus being the first bank in Romania to access the financing developed by the EIB. This agreement amounts to 50 million euros. The financing schemes are dedicated to the companies affected by COVID-19, and the amounts can already be made available to the bank’s customers.

“Through this new financing agreement, we continue the good collaboration we have had with the EIB since 2013 and diversify the resources available to finance the economy, especially for SMEs and mid-caps. The financing provided by the EIB contributes to improving companies’ access to credit and allows us to support investment projects that contribute to the modernization and diversification of economic activity and the maintenance and/or creation of new jobs” said Bogdan Neacşu, president, CEO of CEC Bank.

This agreement is in addition to the other financing that CEC Bank has attracted from the European Investment Bank and with the help of which over 1500 companies have been financed, through various projects.

Through the new financing agreement, CEC Bank can offer medium-term loans (up to five years), with an interest rate reduced by at least 0.25% compared to the standard interest rate.

CEC Bank is the only 100% Romanian bank, the Romanian State through the Ministry of Public Finance, being the sole shareholder. Currently, CEC Bank has the largest national network: over 1000 branches and territorial units. The assets of the company founded in 1864 were over 36 billion lei at the end of the first half of 2020.

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