Garanti BBVA signs 24.4 million Euro loan agreement with the EIB

Garanti BBVA signs a 24.4 million Euro loan agreement with the European Investment Bank (EIB) to support access to financing for small businesses and mid-caps. At least 30 percent of this amount will be used specifically to finance projects focusing on environmental protection in Romania, the bank says.

”We have a tradition of concluding partnerships of this kind with reputable financial institutions, including the European Investment Bank, which provide us with the financial support we need to achieve our goal of creating opportunities for SMEs and mid-caps in Romania and, therefore, supporting the local economy. Garanti BBVA has taken steps over the last few years of activity to encourage sustainable initiatives and responsible behaviour among our clients, both SMEs and large companies and we will continue in this direction. I am pleased to have the EIB’s support again in 2023 and I am confident that through this loan granted by EIB we will take significant steps to further support our customers in terms of sustainable finance”, stated Mustafa Tiftikcioğlu, CEO of Garanti BBVA Romania.

”We are very happy to cooperate so fruitfully with Garanti BBVA in supporting SMEs and mid-caps in Romanian. This agreement will make financing more accessible for businesses in Romania, most of which is formed of cohesion regions, as well as for those investing in climate action, and it will support a greener, more inclusive and sustainable Romanian economy.”, said Lilyana Pavlova, Vice-President of the European Investment Bank.

The EIB Group is a strong supporter of small businesses and over the last five years the EIB has invested EUR 2.85 billion in support of SMEs and mid-caps in Romania.