CEC to sign with EBRD this week, several days later than planned

The lending contract between the EBRD and CEC (The Romanian Savings Bank) to finance SMEs will be signed this week, with a few days’ delay, but an annulment of the deal is out of the question, stated the new chairman of CEC, Radu Gratian Ghetea. “It’s not true that we will lose the contract with the EBRD. The bank goes forward, and we will take out the loan. The moment when it will happen has been put off, but the contract will be signed this week,” said Ghetea. The former chairman of CEC, Eugen Radulescu, said on Monday evening that the bank could lose out on a 10 million-euro loan from the EBRD, designed for SMEs in the rural areas, since there was no one available to sign the necessary documents. The lending agreement was supposed to be signed in Bucharest on Monday.