Romanian CEC Bank grants EUR 24 mln loans to SMEs

State-owned local lender CEC Bank will grant additional loans of EUR 24 million to small and medium-sized enterprises. The bank had signed with the European Investment Fund (EIF) an agreement to supplement grants under the JEREMIE program, after the EUR 10 million initial allocation was exhausted. CEC Bank granted EUR 5 million, whereas EIF offered EUR 5 million. Each of the two institutions will contributes by 50% to the financing of various projects belonging to SMEs in the new funding round. JEREMIE is a joint initiative developed by the European Commission in co-operation with the European Investment Bank Group and other financial institutions to support SMEs. editor@romania-insider.com