Banca Romaneasca grants EUR 1.3 mln loan to local transport company

Lender Banca Romaneasca, part of The National Bank of Greece (NBG) group, announced on Monday it granted a RON 5.8 mln (EUR 1.3 million) loan to SC ETA SA, the local transport company in the municipality of Ramnicu Valcea.

The company used the financing to acquire eight new buses in a bid to enhance the public transport infrastructure in the city.

Cosmin Calin, executive director of the corporate unit at Banca Romaneasca, said the lender won the tender organized this May by ETA, after submitting the best offer.

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“This loan confirms our pledge to finance projects developed by local public authorities aiming to modernize the Romanian localities,” said Calin.

The sole shareholder in ETA is the Local Council in Ramnicu Valcea.

Ovidiu Posirca