Garanti BBVA grants 7.5 million Euro loan to Romania’s leading paper tissue producer MG Tec

Garanti BBVA has granted a 7.5 million Euro loan to MG Tec Industry SRL, the leading Romanian producer of paper tissues. The financing benefits from a state guarantee issued by Exim Banca Românească, covering up to 75 percent of the loan value.

“At Garanti BBVA we remain engaged in supporting the development of the local economy. We encourage and fund local producers to upgrade their production facilities, in order to win a competitive edge in their sustainable development and expansion in the international markets. We continue in this sense to provide adequate instruments in partnership with Exim Banca Românească”, stated Bilge Demirer, Deputy General Manager, Enterprise Banking Area, Garanti BBVA.

”The guarantee structure is an essential component when accessing any type of financing, and the guarantees it provides, on behalf and in the name of the Romanian state, represent a secure and efficient resource that companies can easily access through commercial banks. In this context, the decision of Garanti BBVA to leverage the facilities provided by Exim Banca Românească is all the more important, as it supports the sustainable development of a significant local business. We also encourage other commercial banks to follow this model, for the clear benefit of Romanian companies”, stated Traian Halalai, Executive President, Exim Banca Românească.

Since 2019, MG Tec Industry has invested over 120 million Euro in the development of a state-of-the-art production facility in Romania, covering a 65,000 sqm area. Developed in three phases, the facility is set to manufacture a wide range of products for both local and international markets, including jumbo rolls of paper, industrial rolls, medical rolls, dispenser napkins, and personal hygiene products. The company integrates cutting-edge technology into its production processes, with a particular focus on robust recycling practices, reinforcing its commitment to sustainability.