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.
Romanian prime minister Marcel Ciolacu said on Monday, February 24, that a "lasting peace" in Ukraine cannot be achieved without the involvement of the United States, and argued that Romania does not have to choose between it and the European Union. The statements come as the Trump administration is currently negotiating a resolution to the […]
Romania's acting president, Ilie Bolojan, has invited leaders of parliamentary parties to consultations on Wednesday, February 26, to prepare the country's stance for the extraordinary European Council meeting on March 6 in Brussels. The summit, convened by European Council president Antonio Costa,...
Roughly 40 searches took place in the Port of Constanța and other locations on Monday, February 24, in an investigation by the Anti-Corruption Directorate, or DNA, targeting influential local businessmen, former customs officials in the port, and one of the leaders of the Constanța branch of the governing Social Democratic Party (PSD). The prosecutors’ accusations […]
The Bucharest Community Foundation has announced funding for two new projects aimed at enhancing climate resilience in the Romanian capital by implementing sustainable ecological solutions to improve urban infrastructure and environmental quality. The projects were selected through the sixth round of the Environmental Platform for Bucharest initiative. Out of 16 eligible proposals, the jury chose […]
One of the hostages released on Saturday, February 22, by the terrorist organization Hamas also holds Romanian citizenship. The exchange took place before another setback in negotiations and exchanges. Hostages Tal Shoham and Avera Mengistu were released during a staged event in Rafah, and hostages Eliya Cohen, Omer Shem Tov, and Omer Wenkert were released […]
Polish company Scallier, who is expanding its network of Funshop Park retail parks in Romania, is set to open a new shopping center in the Arad region. The opening date for the roughly 10,000 sqm retail park is March 6. The decision to build a retail park in the Arad region in western Romania was […]
