Romanian state bank CEC secures EUR 25 mln EIB climate transition loan

Regions across Romania will receive a financing boost as a result of a EUR 25 million loan that CEC Bank is receiving from the European Investment Bank (EIB).

CEC Bank will channel the EIB credit into public-sector projects that promote sustainable economic development, particularly in Romanian regions where the shift to a greener industry is the most complicated socioeconomically, according to the EIB press release.

“Our aim is to support initiatives that empower local communities to become more resilient and better prepared for future challenges,” said EIB Vice-President Ioannis Tsakiris.

The funds will be directed to public-sector projects in regions most affected by the climate transition.

This is the first public sector intermediated loan to be supported by a dedicated package under the InvestEU Advisory Hub.

The financing accord comes under a part of the EU Green Deal known as the “Just Transition Mechanism," which offers a mix of EIB loans and Commission grants to public entities in regions most affected by the climate transition.

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