Garanti BBVA Leasing signs 10 million Euro loan agreement with IFC to support SMEs

Garanti BBVA Leasing, part of Garanti BBVA Group Romania, has signed a loan agreement of 10 million Euro with the International Finance Corporation (IFC), member of World Bank Group, aiming to support SMEs affected by the pandemic.

This new agreement signed by Garanti BBVA Leasing will provide financial leases to small and medium-sized enterprises in Romania, including women-owned businesses, impacted by the COVID-19 pandemic, and will help them to continue operations, protect jobs, and accelerate recovery.

”The effects of the pandemic are being felt throughout the economy, and companies, SMEs in particular, are in great need of our support. Garanti BBVA Leasing has a long-standing partnership with IFC and became in 2017 the first leasing company in Romania that financed women owned or managed SMEs. Now, we intend to continue our strategy in 2021 toward this direction and we are also very proud to have an aligned mission of supporting the post-pandemic return to normalcy,” stated Okan Yurtsever, General Manager, Garanti BBVA Leasing.

The financing package is part of IFC’s 8 billion USD global COVID-19 fast-track financing facility, which aims to support private companies and their employees hurt by the effects of the COVID-19 pandemic on the economy.