EIB to grant a 100-million Euro loan to CEC Bank
The European Investment Bank (EIB) granted in early September a loan of 100 million Euro (over 440 million RON) to the Romanian CEC Bank for co-financing projects of SMEs, Mid-Cap and public sector companies in the sectors of industry, services, including tourism and infrastructure, according to a press release quoted by Mediafax 2014-10-04 11:59:24 - From the Print Edition
"EIB funds, intermediated through CEC Bank being a well-established partner financing institution of the EIB, will help to increase the competitiveness of Romania," said Mihai Tanasescu, EIB's vice president responsible for Romania during a CEC Bank conference.
"The loan is designed to support mainly SMEs, which are the backbone of the Romanian economy both in terms of employment and economic growth." Moreover, he added that by the end of this year, the EIB will finance Romania with 600 million Euro, 20 per cent more than last year.
The credit granted to CEC Bank comes after local banks used a 45 million Euro loan granted last year by the EIB to finance SMEs and medium businesses, of which the Bank has financed over 100 projects in areas such as manufacturing, agriculture, trade, services, and construction or production of green energy.
EIB finances Romanian SMEs through 14 financial institutions operating in both the public and private sectors. CEC Bank credited SMEs last year with 174 million Euro, which have over 41,000 employees. From the beginning in Romania, EIB granted financing of ten billion Euro, which represent about 7.3 per cent of Romania′s GDP.
|
|
| |
|
Daily Info |
Smart city is not a fad, it's a necessity In June 2018, the ranking of the most "smart" cities in the world was published. In other words, the most advanced cities in terms of human capital, social cohesion, the econo... |
Ondrej Safar, CEZ Group: "Romania can become a hub for international smart solutions providers" "We are already in the digital age, so the upward trend of implementing smart solutions is inevitable in all areas," he tells The Diplomat-Bucharest. "Especially in terms of u... |
Telekom Romania, a strong supporter of Smart City development in Romania Just like many other countries in the world Romania is now facing an unprecedented growth of the urban population, which can be both beneficial and detrimental for the society... |
In the industrial era, the fight was for finite material resources. Not anymore Now organizations fight and develop themselves for and around their talent.
In a nutshell, getting ahead in today's business world is all about attracting and inspiring an e... |
Richard Sareczky, Mol Limo: "We look at expansion locations across CEE including Romania" Consumer mobility behaviour is changing, leading to up to one out of ten cars sold in 2030 potentially being a shared vehicle and the subsequent rise of a market for fit-for-p... |
|
|
|
|
|
|
|
|
advertising
advertising
advertising
|
More on News |
President Iohannis urges Romanians to be more united, stay involved in modernizing Romania Romania's President Klaus Iohannis urged Romanians in France to be more united and stay involved as much as they are now in helping modernise Romania. |
OTP Bank Romania signs investment funds distribution deal with Eurobank Fund Management Luxembourg OTP Bank Romania signed a partnership with Eurobank Fund Management Company (Luxembourg) for the distribution of investment funds in Romania. Thus, from December 1st, OTP B... |
Fondul Proprietatea expresses disappointment over Engie listing rejection Fondul Proprietatea is disappointed with the decision taken by the majority shareholder of Engie SA, Romania Gas Holding B.V., to oppose the listing of the company, accordi... |
Europe must become a producer of new technologies, not just a consumer of technologies, says EC Europe must become a producer of new technologies, not just a consumer of technologies, said Gerard de Graaf, Director for the Digital Single Market in Directorate-General ... |
FDI in Romania rises 10 per cent after ten months in 2018 Non-residents' direct investment in Romania (net FDI) totaled 4.56 billion Euro in January-October 2018, around 10 per cent more compared to the same period of 2017, Romani... |
Catrina, MCSI: Romania is ready to roll up its sleeves and work during the presidency of the EU Council Romania is ready to roll up its sleeves and work during the presidency of the Council of the European Union (EU), said Maria Manuela Catrina, State Secretary at the Ministr... |
Two billion youth risk of being left behind in the Fourth Industrial Revolution workforce, says Deloitte Almost two billion youth worldwide risk of being left behind in the Fourth Industrial Revolution (Industry 4.0) workforce, which is changing at an increasingly rapid pace a... |
|