Regions across Romania will receive a financing boost as a result of a EUR 25 million loan that CEC Bank is receiving from the European Investment Bank (EIB).\u00a0<\/p>\n
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, according to the EIB press release.<\/p>\n
\u201cOur aim is to support initiatives that empower local communities to become more resilient and better prepared for future challenges,\u201d said EIB Vice-President Ioannis Tsakiris.<\/p>\n
The funds will be directed to public-sector projects in regions most affected by the climate transition.<\/p>\n
This is the first public sector intermediated loan to be supported by a dedicated package under the InvestEU Advisory Hub.<\/p>\n
The financing accord comes under a part of the EU Green Deal known as the \u201cJust Transition Mechanism,” which offers a mix of EIB loans and Commission grants to public entities in regions most affected by the climate transition.<\/p>\n