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May 22, 2022
BUSINESS

Talks for CEC Bank or Exim Bank to become development bank, in “advanced stage”

The European Funds Minister has reiterated the fact that state-owned Exim Bank or CEC Bank could be transformed into a development bank. This is not the first time when Mr. Eugen Teodorovici comes up with such a “novelty.”
According to him, the new bank would finance the beneficiaries of European projects, both public authorities and public or private companies.
“We have discussed the fact that CEC or Exim Bank could become such a development bank which the Romanian state would use directly as an instrument in the European funds area and not just there, but for us the European funds area is very important now,” Teodorovici stated.
Teodorovici claims that the talks on this issue are in a “very advanced” stage and the legal framework for the new development bank could appear by the end of this year.
We are waiting for the minister’s “forecasts” to come true, especially since there is lobbying within the government for one of these banks to specialize on financing agriculture or SMEs.

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