November 25, 2017

CEC Bank gets EUR 45 M to support SMEs, mid-caps and Public Sector Entities

A press release informs that the European Investment Bank (EIB) is lending EUR 45 million to CEC Bank Romania to finance projects of SMEs, Mid-caps and public sector entities in the areas of industry, services, including tourism and infrastructure. The first installment of the loan is EUR 15 million. Mihai Tanasescu, EIB Vice-President responsible for lending operations in Romania, commented: “(…) This represents further support under favorable conditions for projects implemented by these companies (SMEs and mid-cap companies) that are crucial for the development of the Romanian economy, particularly in terms of creating new job opportunities and fostering economic growth and competitiveness”. This loan will help to reduce the effects of the financial crisis and support growth by fostering economic restructuring, consolidation and diversification as well as enhancing long-term competitiveness through the increased availability of long-term loans.
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