Garanti BBVA Leasing receives 5 million Euro loan from EBRD

The European Bank for Reconstruction and Development is extending a 5 million Euro loan to Romania’s Garanti BBVA Leasing to increase access to financing for local micro, small and medium-sized enterprises (MSMEs).

The loan is aimed at sustaining the Romanian MSME sector, which has been materially affected by the coronavirus pandemic and is currently recovering lost ground.

Garanti BBVA Leasing is part of the financial group Garanti BBVA Romania and provides a wide range of leasing products and services: offers for vehicles, equipment, real estate leasing, and sales and lease-back. The new loan is the third agreement signed by Garanti BBVA Leasing Romania and the EBRD.

“Entrepreneurship is an important engine that has historically boosted the development of the economy in Romania. It is the core of the local business environment and we are active supporters of this sector. We aim to be the financial partner that our clients can rely on, especially during these uncertain times, when a boost of confidence is needed to drive both morale and the economy upwards,” said Okan Yurtsever, General Manager, Garanti BBVA Leasing.

The EBRD is a major international institutional investor in Romania and a major supporter of the development of MSMEs. To date, the Bank has invested 8.8 billion Euro in the country’s economy through 454 projects.