Romanian state-owned bank finances energy services contractor

Romania's state-owned Eximbank has given Romelectro group, a general contractor for energy projects, a funding ceiling worth EUR 12 million, to run a contract concluded with Romanian electricity transport company Transelectrica, bank representatives said, cited by local Economica.net. The facility includes a financing part, covering temporary cash needs, and a guarantee part, through letters of guarantee for performance and advance refund, that are necessary for Romelectro to refurbish an electric transformer station managed by Transelectrica. editor@romania-insider.com