EBRD mulls lending 10 mln euro to Garanti Leasing Romania

The project is part of the Financial Intermediaries Framework (FIF), the EBRD’s instrument for promoting sustainable financial markets and on-lending to the MSME sector, the bank said in a press release on Wednesday.

As much as 30% of the proceeds will be directed to financing of green and low-carbon investments under the EBRD’s Green Economy Transition (GET) programme. The project is still in the exploratory stage, pending final review.

The EBRD provided multiple loans to Garanti Leasing in Romania for onward lending to MSMEs. According to documents published on the EBRD’s website, the latest loan approvals were granted in September 2021 and September 2022, amounting to 10 million euros and 5 million euro, respectively.

Garanti BBVA Leasing is a mid-sized SME-focused finance lease provider. Garanti BBVA Romania financial group was established in 1998 as Motoractive IFN and was renamed as Garanti Leasing after Turkey’s Garanti BBVA bank became its largest shareholder at the end of 2010. Garanti Leasing Romania is ultimately owned by Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA).

($=0.9283 euro)