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European funds are playing an essential role in Romania's development, with CEC Bank having financed, since the beginning of the financial years 2007-2013, over 3,000 investment projects, says Ramona Ivan, CEC Bank Director of Relations with National and International Institutions, on Europe Day.
According to a press release issued by the bank, in 2007-2024 CEC Bank has granted 3,243 loans for financing projects with a non-reimbursable component, of a total value of RON 9.4 billion. The funded projects had a grant component of RON 22.3 billion.
"If we look at the composition of these loans, we notice that the main financing was granted under rural development operationalprogrammes (PNDR and POPAM) - 2,140 projects and a cumulative financing value of RON 3.5 billion lei - followed by operational programme regional development (ROP) with 612 funded projects of a cumulative value of RON 2.75 billion."
As many as 521 loans of a cumulative value of RON 2.7 billion were granted to local public administration authorities (LPAA) for the implementation of projects with an impact on local communities, and 2,722 loans, totalling RON 6.7 billion, to companies for the development of their investment projects.
CEC Bank says it is staying long-term committed to the Romanian economy, being involved in the development of all government programmes. For example, in previous editions of the SME Invest programme, CEC Bank granted approximately 7,200 loans exceeding RON 7 billion. The programme is designed to help entrepreneurs obtain the necessary funding to overcome the current economic obstacles amplified lately by Russia's invasion of Ukraine.
