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March 29, 2023

CEC Bank supplements value of financing agreement with European Investment Fund

CEC Bank has signed with the European Investment Fund (EIF) the supplementation of the financing and guaranteeing risk-sharing agreement which is part of the Joint European Resources for Micro to Medium Enterprises (JEREMIE) initiative. The total value available for the new loans stands at EUR 24 M, RON equivalent, each institution contributing 50 per cent of the value of the financing offered. The bank will thus continue to offer financing in advantageous conditions and with flexible guarantees in order to allow SMEs to implement their investment projects and finance their working capital.

The EUR 10 M sum initially allocated (EUR 5 M from EIF sources and EUR 5 M from the bank’s own sources) was used in full, the loans being offered for the financing of the working capital and for the implementation of investment projects such as the construction/purchase of industrial halls, purchasing of commercial and production spaces, expansion and modernization of housing units, tourism units, the purchase of industrial and medical equipment.

“By supplementing the financing and guaranteeing agreement signed with the European Investment Fund as part of the JEREMIE initiative, CEC Bank continues its mission to support SMEs and to promote the financial instruments dedicated to this segment. The bank’s clients benefit from advantageous and flexible crediting conditions and from professional consultancy offered through the consultancy bureaus for SMEs and for the support of the accessing of European funds projects in every county,” CEC Bank Chairman & CEO Radu Gratian Ghetea stated.


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