IFC helps Garanti Leasing finance women entrepreneurs in Romania

The International Finance Corporation (IFC), a member of the World Bank Group, has provided a EUR 5.5 million loan to Garanti Leasing, part of Garanti Romania, for financing small and medium enterprises (SMEs) owned or managed by women. Garanti Leasing will thus become the first leasing company in Romania directly financing women-owned or -managed SMEs. The company is continuing Garanti Bank’s strategy of supporting women entrepreneurs. This is the third agreement signed by IFC with Garanti Group Romania targeting women entrepreneurs and improving their access to finance. IFC previously provided long term loans to Garanti Bank in 2011 (EUR 22.5 million) and 2014 (EUR 35 million) for onlending to businesses in Romania owned or managed by women. Garanti Leasing has previously received EUR 7 million from IFC to finance Romanian SMEs. In the first quarter of 2017, Garanti Leasing granted new financing worth EUR 21.87 million. editor@romania-insider.com