CEC grants cheaper credits

CEC (Romanian Savings Bank) yesterday cut rates for certain credits granted to legal persons. Interest will go down 1%, to 25% for the loans contracted by the local public administrations for equipment investments. Also, the subsidised loans aimed at farmers and granted through the SAPARD programme will be 2% cheaper, as the rates go down to 26%. Moreover, companies willing to invest in the acquisition of equipment will get loans at 26% interest, down 2%. Interests will remain unchanged for the other credits. ZF