EBRD lends Romanian leasing firm €10 million

CITEȘTE ÎN ROMÂNĂ

• EBRD lends €10 million to Garanti BBVA Leasing Romania
• The loan will provide financing for on-lending to local SMEs for capital expenditure
• 30 per cent of the loan proceeds will be directed to financing green assets

The European Bank for Reconstruction and Development (EBRD) is extending a €10 million loan to Garanti BBVA Leasing Romania, a mid-sized finance lease provider that works with small- and medium-sized enterprises (SMEs), to broaden these firms' access to leasing finance and build their resilience.

Garanti BBVA Leasing will use the loan to finance new leases for SMEs for capital expenditure, enabling them to access equipment and vehicles. More than 70 per cent of the firms expected to benefit from these leases are outside the capital, Bucharest, giving the programme a regional dimension. At least 30 per cent of the loan proceeds will be used to finance green assets which support climate change mitigation, in line with EBRD's Green Economy Transition standards.

"I'm pleased to expand cooperation with our longstanding partner Garanti BBVA Leasing. The project will improve access to finance for SMEs while also encourage investments in green technologies. Garanti BBVA Leasing's focus on SMEs is aligned with EBRD's strategic objective for Romania to support SME lending", stated Victoria Zinchuk, EBRD Head of Romania.

"We are delighted to extend our longstanding partnership with the European Bank for Reconstruction and Development and continue to support the growth and resilience of small and medium-sized enterprises in Romania. The inclusion of dedicated green financing funds represents a significant step forward, perfectly aligning with Garanti BBVA Leasing's strategy to offer companies leasing options for sustainable, environmentally-friendly projects," said Okan Yurtsever, General Manager of Garanti BBVA Leasing.

In 2023, the EBRD invested €658 million in Romania. Since the EBRD began working in Romania in 1993, it has committed almost €11 billion to 525 projects in the country, of which 81 per cent is in the private sector.