EBRD lends EUR 10 mln to Garanti BBVA Leasing Romania

The European Bank for Reconstruction and Development (EBRD) has extended a EUR 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% of the firms expected to benefit from these leases are based outside Bucharest, giving the program a regional dimension.

At least 30% of the loan proceeds will be used to finance green assets that support climate change mitigation, which is 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 encouraging investments in green technologies," stated Victoria Zinchuk, EBRD Head of Romania.

In 2023, the EBRD invested EUR 658 million in Romania.

Garanti BBVA Leasing (legal name Motoractive IFN SA) is part of the Garanti BBVA Romania Financial Group. The group also includes a banking institution, Garanti BBVA, Garanti BBVA Consumer Finance, and Garanti BBVA Fleet Management.

(Photo source: Jerome Cid/Dreamstime.com)