Garanti BBVA Romania signs 40 mln euro loan deal with IFC

The loan will allow Garanti BBVA Romania to provide mortgages and loans for clients that opt for green housing, it said in a press release.

Also, the financing will allow Garanti BBVA to increase its contribution to reducing greenhouse-gas emissions, the release further showed.

The current loan comes as part of a long-term partnership between Garanti BBVA Romania and IFC.

In 2022, Garanti BBVA Consumer Finance, part of Garanti BBVA Group Romania, signed a 10 million euro loan with IFC.

"An important direction in our strategy is educating clients about sustainable financing, and we will strive to increase customers' appetite for purchases that contribute to protecting the environment" said CEO of Garanti BBVA Romania, Mustafa Tiftikcioglu.

Active in Romania since 1998, Garanti BBVA Romania is a subsidiary of Garanti BBVA Turkey, the second largest private bank in Turkey. The majority shareholder of Garanti BBVA Turkey is the Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA).

A member of the World Bank Group, IFC is a global financial development institution which is focused on the private sector in emerging markets. IFC is present in more than 100 countries.

($=0.9636 euro)