Romanian lender CEC Bank: EU funds beneficiaries must rev engines

Beneficiaries of EU funds for the 2008-2014 period must fully implement the projects by September 30, said Ramona Ivan, External Relations and Structural Funds Director within CEC Bank. Otherwise they will lose the grants. Ivan said that there are many beneficiaries that signed contracts last year, and if they don’t fully implement the projects by the deadline, they can lose all money. “Beneficiaries have to rev the engines to implement these projects," she said, cited by local Mediafax. Ivan doesn’t expect an increase in lending this year, as most business people focus on preserving their business. CEC Bank will continue to focus on financing agriculture, European funds and small and medium enterprises. editor@romania-insider.com