Govt Is About To Complete CEC Bank’s Capitalization – Romanian Pres

Basescu did not offer any details on the issue.

The Government announced as anti-crisis measures included in the 2009 budget the proposal to hike CEC Bank’s share capital by 900 million lei (EUR1=RON4.2348), and a RON170 million increase in the capital of another state-owned lender, Eximbank.

CEC Bank and Eximbank’s funds will be used mainly to co-finance and guarantee the projects developed with European funds and to finance the small- and medium-sized enterprises.

The capitalization of CEC Bank and Eximbank might need the European Commission’s approval, discussions between the Government and the E.U. Executive being planned for the next period.