EBRD lends € 10 million to Garanti Leasing Romania to finance MSMEs
BUCHAREST (Romania), September 30 (SeeNews) – The European Bank for Reconstruction and Development (EBRD) has announced the signing of a senior unsecured loan of 10 million euros ($ 11.6 million) to Garanti Leasing Romania for on-lending to micro, small and medium-sized enterprises (MSME) within the framework of financial intermediaries (FIF).
The loan proceeds will be used to ensure MSMEs’ uninterrupted access to finance as the economy continues to recover from the Covid-19 pandemic, the EBRD said in a project briefing document on Wednesday.
At least 30% of the revenues will be used to finance investments eligible for the Transition to the Green Economy (GET).
The project will support the qualities of the FIF by improving the competitiveness of the company by helping to expand its portfolio of SMEs with a focus on reaching regional clients outside the capital and its resilience by helping to ensure good practices. prudent rental and an adequate portfolio quality.
With its broad regional reach across the country, Garanti Leasing Romania is well positioned to provide finance to MSMEs and attract new MSME customers, the bank noted.
Established in 1998, Garanti Leasing Romania, formerly known as Motoactive IFN, is a medium-sized leasing provider focused on SMEs.
($ = 0.8576 euro)