July 7 (SeeNews) - Garanti BBVA Consumer Finance, part of Garanti BBVA Group Romania, said on Thursday it signed a loan agreement of 10 million euro ($10.2 million) with the International Finance Corporation (IFC) to finance green investments.
The loans will address individuals who seek to invest in products that contribute to the protection of environment, respectively a wide range of energy efficient class domestic appliances, and energy-efficient improvements for their houses and apartments, such as envelope insulation, energy efficient windows and rooftop solar panels, Garanti BBVA Consumer Finance said in a press release.
Funds can also be used to buy electric and hybrid vehicles, e-scooters or e-bicycles.
"The agreement with our long-term partner, IFC, will help us grow our green loan portfolio, thus supporting more Romanians and country`s climate goals," Garanti BBVA Consumer Finance general manager Tolga Banyocu said.
Through the new agreement, Garanti BBVA Consumer Finance has become the first non-banking financial institution (NBFI) active in this segment in Romania to receive funding for green financing from IFC, a member of the World Bank Group.
"IFC is committed to helping Romania accelerate its green transition and this operation will help promote consumer finance as part of the available tools for climate financing," IFC’s regional head of industry for financial institutions in Europe Vittorio Di Bello said.
Garanti BBVA Consumer Finance is part of the financial-group Garanti BBVA Romania, alongside Garanti BBVA and Garanti BBVA Leasing. Garanti BBVA Group Romania is held by Garanti BBVA Turkey (TGB), whose majority shareholder is the Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA).
($=0.98 euro)
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