- Funds to 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.
Regions across Romania will receive a financing boost as a result of a €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.
The EIB loan will help Romania promote economic cohesion, ensuring social fairness. State-owned CEC Bank has the largest banking network in Romania, facilitating project funding countrywide. In addition, through its advisory unit, the EIB will help project promoters seek grants under a parallel European Commission programme known as the Public Sector Loan Facility, or PSLF.
“This partnership with CEC Bank reinforces our commitment to sustainable development in Romania,” said EIB Vice-President Ioannis Tsakiris. “Our aim is to support initiatives that empower local communities become more resilient and better prepared for future challenges. This is an excellent example of how our lending and our advisory expertise can be combined to create real improvements on the ground.”
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.
“Supporting the investment projects of local public administrations, which directly contribute to community development and to improving quality of life, represents a strategic direction for CEC Bank,” said CEC Bank CEO Bogdan Neacșu. “The financing provided through the partnership with the European Investment Bank adds value in terms of stability and confidence, through competitive costs and maturities tailored for infrastructure projects. The collaboration with the EIB strengthens CEC Bank’s role as the main financial partner of local authorities in the implementation of essential investments for Romania’s development.”
Background information
EIB
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, the EIB finances investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, high-impact investments outside the EU and the capital markets union.
The EIB Group, which includes the European Investment Fund (EIF), signed almost €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.
All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60 % of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.
Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Around half of the EIB's financing within the EU is directed towards cohesion regions, where per capita income is lower than the EU average.
High-quality, up-to-date photos of the organisation’s headquarters for media use are available here.
InvestEU
The InvestEU programme provides the EU with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investment for EU policy priorities, such as the European Green Deal and the digital transition. InvestEU brings together under one roof the multitude of EU financial instruments available to support investment in the EU, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that invest in projects, leveraging on the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increasing their risk-bearing capacity and mobilising at least €372 billion in additional investment.
CEC Bank
CEC Bank is the financial institution with the longest tradition in Romania. Founded in 1864, CEC Bank currently has the most extensive national network, with over 1,000 branches and territorial units. CEC Bank is a leading universal bank on the Romanian market and offers a complete range of products and services to individuals, SMEs, and large corporations, through multiple distribution channels: bank branches, ATM and POS networks, mobile banking (CECapp), and the virtual store CEC_IN – where banking products and services can be accessed 100% online.
More details about the products and services offered by CEC Bank can be obtained at any Bank unit, by calling free of charge the Customer Support Service at the phone number 0.800.800.848 or by accessing the website www.cec.ro.
CEC Bank Group
The CEC Bank Group was established through the acquisition, on 27.07.2023, by CEC BANK S.A., of the majority shareholding (99.993%) of the Rural Credit Guarantee Fund – I.F.N. S.A. (FGCR), together with the Ministry of Agriculture and Rural Development.
FGCR’s main object of activity is the assumption of guarantee commitments and the issuance of guarantees on account of public funds, own sources, and any other sources for loans and other financing instruments that can be obtained by natural and legal persons – agricultural producers and agri-food product processors, for carrying out agricultural production, storage/processing of agricultural products, and the achievement of investment objectives in these fields. FGCR grants guarantees from the sources made available by the Ministry of Agriculture and Rural Development and under the conditions established through a series of normative acts. Details are available on the FGCR website https://fgcr.ro/despre-noi/.