CEC Bank signed a new guarantee agreement with the Romanian Investment and Development Bank (BID), under which it will be able to grant loans up to a ceiling of 740 million lei, the bank announced in a press release.?The signing of the agreement with the Investment and Development Bank gives us the opportunity to accelerate SME financing and respond more quickly to the needs of Romanian entrepreneurs. The portfolio guarantee mechanism is a modern and efficient solution that enables banks to take on greater risks sustainably, thus supporting private initiative and innovative projects. CEC Bank will continue to be an active partner of institutions contributing to the development of the real economy,' CEC Bank President Bogdan Neacsu is quoted in the release as saying.Under this agreement, CEC Bank will be able to grant loans up to a ceiling of 740 million lei, using the guarantee ceiling of 520 million lei provided by BID.?CEC Bank is a natural partner for BID - together we are building a chain of trust between the state, banks and beneficiaries. Through these agreements, we are setting in motion a genuine development mechanism: guarantees that open up credit, investments that give meaning to both public and private capital,' said BID CEO Dan Sandu.CEC Bank's participation as a financial intermediary for this financing instrument will allow the bank to grant loans with guarantees of up to 70% (and up to 80% for certain categories) within a capped guarantee portfolio, as well as to increase the number of clients attracted and financed. It will also enable the bank to align with green finance requirements by lending to sustainable investments and projects contributing to climate neutrality and improved energy efficiency.?From the perspective of a partner financial institution, collaboration with BID represents an important step towards efficient risk sharing and an opportunity to expand access to credit for underserved segments. Through BID guarantees, CEC Bank will be able to finance sustainably the projects of SMEs with short histories, start-ups and companies developing innovative solutions, thus supporting the modernisation of the economy and the growth of private investment. In the long term, CEC Bank regards collaboration with BID as a strong and strategic partnership that will contribute to the co-financing of major development projects and to strengthening Romania's financing ecosystem,' added Bogdan Neacsu.The portfolio guarantee for SMEs will operate as a systemic instrument, covering part of the total risk of the loan portfolio granted by financial institutions. Unlike traditional systems, where each loan is analysed and guaranteed individually, the new mechanism provides an overall guarantee, allowing banks to grant financing more quickly and with lower capital consumption. Thus, the BID guarantee will facilitate investment in strategic sectors, stimulate job creation and contribute to enhancing the competitiveness and resilience of the Romanian economy in a context marked by macroeconomic pressures, the release reads.
Romanian president Nicușor Dan announced on Tuesday, December 9, that French president Emmanuel Macron will pay an official visit to Romania in 2026. The confirmation was made during Dan’s visit to Paris, where the two leaders held extensive discussions on defence, security, and economic...
Ireland can be seen as one of the most important business hubs in Europe and the European Union, as many international companies have established regional headquarters there. If you are looking for a country to expand your enterprise, you should definitely consider Ireland for several reasons that are presented below. Location and language The first […]
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A new alley named after Romanian diplomat Nicolae Titulescu was inaugurated on Tuesday, December 9, in Paris’s Parc Monceau during a ceremony attended by Romania’s president Nicușor Dan and Paris mayor Anne Hidalgo. “I expressed my appreciation for the decision to name an alley in the beautiful Parc Monceau in Paris after the great Romanian […]
Oxygen Resort, a development located in central Romania’s Harghita county, has inaugurated its first bungalows. The first 18 bungalows are already functional, with another 17 units to be completed in the next stage, bringing the total to 35. The inauguration of the bungalows “marks the transition from a center dedicated predominantly to recreational activities to […]
