Garanti BBVA Leasing has signed a new EUR 10 million loan agreement with the European Bank for Reconstruction and Development (EBRD) to support the development of SMEs in Romania.
According to a Garanti BBVA Leasing press statement on Monday, the company will use the loan to finance new leases for SMEs for capital expenditure, enabling them to access equipment and vehicles.
Moreover, under this new agreement, at least 30%of the loan proceeds will be used to finance green assets which support climate change mitigation.
"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," says Garanti BBVA Leasing General Manager Okan Yurtsever.
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," says EBRD Head of Romania Victoria Zinchuk.
In 2023, the EBRD invested EUR 658 million in Romania. Since the EBRD began working in Romania in 1993, it has committed almost EUR 11 billion to 525 projects in the country, of which 81% per cent is in the private sector.
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