The biggest house project on the Romanian market, Green City in1 Decembrie commune, developed by businessman Dumitru Bucşaru, hasrecovered from insolvency just two months after insolvencyproceedings began, following the restructuring of the 100million-lei loan secured from CEC Bank to erect the first 350houses of the complex.
Bucşaru had an annual 15% interest on the lei-denominated loansecured from CEC, whose repayment deadline has been extended until2015. CEC has also come up with a special product to finance buyersof homes in the project. "CEC Bank has together with the developerpartner identified financial solutions viable for consumers,solutions that will be launched in a financial package that isadvantageous to both sides," said Radu Gheţea, CEC Bankchairman.
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