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.
The Bucharest National Airport Company (CNAB) has said an order was issued for the start of the construction works on an additional parking lot at the Henri Coandă International Airport, Bucharest’s main one. The parking lot, covering 20,265 sqm, will be constructed under a contract worth RON 14.89 million (without VAT) by an association between […]
Romania’s economy minister, Ștefan-Radu Oprea, recently announced that Borusan Pipe will open a new production facility in the Alinso Industrial Park, located in the commune of Ariceștii Rahtivani, Prahova County, in a few months. The facility will start manufacturing pipes used in automobiles, with clients including Dacia and Ford Otosan, as well as companies from […]
The Republic of Moldova is a Guest of Honour country at this year's Bookfest, the book fair taking place in Bucharest between May 29 and June 2. Close to 40 events are part of the guest country program, from book launches to debates on current topics. Among the Moldovan authors who will be present at the […]
The Romanian medical recovery chain Centrokinetic, backed by the AGISTA growth investment fund, has recently purchased its eighth clinic, namely the Socrates Clinic in Timișoara. The completed transaction will see Centrokinetic acquire nearly 70% of the clinic's shares, with one of its founders, Dr. Armand Gogulescu, retaining a little over 30%. Plans for the immediate […]
Some 10,000 athletes are expected to join the races of this year’s Bucharest Half Marathon, set to take place on May 11 and May 12. The event, at its 13th edition this year, covers the 21k race, the relay race (3 x 6,5km + 7km + 7,6km), and the 10k and 2.5 k races. The 10k […]
DevTalks Romania, the largest conference dedicated to software developers and IT professionals in Romania, brings together over 6,000 participants at Romexpo, Pavilion B1, on May 29-30, alongside 150 international and local speakers. MassMutual Romania is actively involved in the development of the local technology market, which is why it supports the 11th edition of DevTalks […]
