CEC Bank continues its support for Romanian agriculture by introducing a quick approval credit product designed specifically for cereal farmers. “Agriculture is a top priority for us. In 2022, CEC Bank was the largest player in the banking system under the government’s Rural Invest program, as well as the leading financier of APIA loans, with around 7,000 credits extended. Agricultural entrepreneurs have specific, seasonal needs, and banks need to consider factors like rate setting, guarantees, and customer creditworthiness analysis,” said Bogdan Alexandrescu, Director of the AGRI Department at CEC Bank. These loans are available for both non-revolving current activities, with guarantees from the Rural Credit Guarantee Fund and no real collateral required from the client, as well as for investments. The credit is in Romanian Lei, ranging from 50,000 Lei to a maximum of 500,000 Lei, not exceeding 85% of the investment value. Beneficiaries can be individual agricultural producers or legal entities engaged in cereal cultivation. Interest rates start at ROBOR 6M + 2.50 percentage points and cannot exceed ROBOR 6M + 3.50 percentage points, with rates varying based on the farmers’ economic performance. This new credit is intended for farmers who operate agricultural land with a minimum area of 50 hectares, and 75% of their income must come from agricultural crops. The loan term is a maximum of 24 months for non-revolving current activities and up to 84 months for investments. In 2022, CEC Bank significantly increased its support for small and medium-sized farmers, with new loans growing by nearly 80% compared to 2021.
Romania has formally signed an intergovernmental agreement to acquire 18 F-16 fighter jets from the Netherlands, the Ministry of Defense announced on Monday, November 3. The aircraft, already stationed at the Fetești Air Base as part of the European F-16 Training Center (EFTC), will now become the property of the Romanian state and will be […]
Romania has 454 casinos, which places the country right after the United States, which hosts 2,147 such places and over 600 casino hotels, B1tv.ro reported. Bucharest ranks as the second city, after Las Vegas, in terms of the number of casinos per population....
The candidate of the National Liberal Party (PNL) for Bucharest general mayor, Ciprian Ciucu, is two percentage points ahead of Daniel Băluţă, the representative of the Social Democrats (PSD) in the race, seen so far as the preferred one, according to a survey commissioned by the Liberal Party and published by Cotidianul.ro, as reported by
Romania is nearing the conclusion of a "huge USD 30 billion" investment agreement with the United States covering nuclear, hydro, natural gas, and artificial intelligence-based technologies, energy minister Bogdan Ivan announced last week, according to Ziare.com and
Romania’s minister of economy Radu Miruță said on November 3 that a share of the funds allocated to the country under the European Commission’s Security Action For Europe (SAFE) programme could be used to revitalise the Mangalia shipyard and strengthen the country’s defence and transport infrastructure,
Spanish company Telefónica is considering the acquisition of Digi Communications (BVB: DIGI) of Romania, active at home but also on the markets of Italy and Spain, in a deal that could significantly change the European telecommunications market, according to Ziarul Financiar, citing Spanish publications...
