IFC supports Garanti increase lending to SMEs and sustainable energy finance in Romania

Region:

Europe

The International Finance Corporation (IFC) is providing a €55 million loan to Garanti Bank Romania to help finance small and medium-sized enterprises (SMES) and their sustainable energy finance projects to generate growth and resilience to climate change.

The new loan will allow Garanti to extend its reach to smaller companies. The level of financial intermediation in Romania is one of the lowest in the EU and yet has to fully recover from the global financial crisis.

The loan represents the seventh agreement signed by Garanti Group Romania with IFC during the past seven years. Together with this line, since 2012, IFC has granted a total of €157 million to Garanti.

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