CEC Bank contracts 50 million Euro from European Investment Bank (EIB) to finance companies

CEC Bank has concluded a new financing agreement, worth 50 million Euro, signed with the European Investment Bank (EIB), through dedicated financing schemes for the economies affected by COVID-19. The amounts can already be made available to the bank’s customers.

“Through this new financing agreement, we continue the good collaboration we have had with the EIB since 2013 and we diversify the resources available to finance the economy, especially for SMEs and mid-caps. The financing provided by the EIB contributes to improving companies’ access to credit and allows us to support investment projects that contribute to the modernization and diversification of economic activity and the maintenance and / or creation of new jobs, “said Bogdan Neacșu, President, General Manager of CEC Bank.

This is a new type of financing developed by the EIB in the context of the COVID-19 pandemic, to support the return of the SME sector, and CEC Bank is the first bank in Romania to access EIB financing in response to COVID-19.

The collaboration between CEC Bank and the EIB began in 2013, and this is the third financing agreement signed by the two parties. The previous agreements were signed in 2013 and 2014, respectively, and had a cumulative value of 145 million euros.

Through the sources attracted from the EIB so far, CEC Bank has provided financing worth about 1 billion lei, for over 1,500 companies, and through the new financing agreement CEC Bank can offer medium-term loans (up to 5 years) , with an interest rate reduced by at least 0.25% from the standard interest rate.