IFC lends EUR 22.5 mln to Garanti Bank in Romania to finance women entrepreneurs

The International Finance Corporation (IFC) will loan Garanti Bank Romania EUR 22.5 million to help finance small and medium businesses in Romania, especially those owned or managed by women entrepreneurs. This is IFC’s first loan specifically designed to help enterprises run by women in Eastern Europe. Garanti Bank Romania has also recently developed a special product for women entrepreneurs.

“Women play a crucial role in business, and they have a direct impact on the type and quality of economic growth that a country experiences,” said Tomasz Telma, IFC Director for Europe and Central Asia. “Strengthening women’s participation in the Romanian private sector both empowers women and harnesses untapped potential for advancing development.” Romania became a member of IFC in 1990. Currently, IFC’s portfolio in Romania stands at USD 632 million. editor@romania-insider.com