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March 27, 2023

Raiffeisen Bank borrows EUR 80 M from CEB for loans to SMEs, public sector

Raiffeisen Bank and the Council of Europe Development Bank (CEB) signed a loan accord worth EUR 80 M – EUR 50 M for Raiffeisen Bank Romania and EUR 30 M for its subsidiary Raiffeisen Leasing, reads a press release. The financing lines are destined to investments made by SMEs in view of creating or maintaining jobs (maximum 250 employees) and financing local communities and public utility companies. “CEB is decided to follow its main mission, which is strengthening the social cohesion and the development of EU member countries, a mission that is essential during this difficult time for the economy,” said Mikolaj Dowgielewicz, deputy governor of CEBThe funds of this loan will start being used in December, according to James Stewart, vice-president Raiffeisen Bank. The loans extended by Raiffeisen Bank and the financing lines provided by Raiffeisen Leasing from the CEB lines benefit from advantageous price conditions and will be granted on medium and long terms. CEB funds may be used in combination with EU funds or state aid.

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