The new loan is the third agreement signed by Garanti BBVA Leasing and the Black Sea development bank, after EUR7.5 million funding in 2014 and EUR10 million in 2017.
“SMEs represent an important segment of the Romanian economy, and we want to continue to be a solid and trusted partner, by supporting our customers in developing their projects and businesses,” said Okan Yurtsever, general manager of Garanti BBVA Leasing.
The lending institution estimates the funding will reach out to more than 200 companies, contributing to job generation, increased competitiveness and export capacity for the Romanian economy.
“ This new financing underscores the role of leasing as a flexible alternative for SME finance by facilitating access to finance for companies to overcome economic slowdown and support recovery, at a time when credit implications due to the coronavirus pandemic are still serious,” said Hasan Demirhan, BSTDB vice-president.
Garanti BBVA Leasing is part of the financial-group Garanti BBVA Romania, which brings together also Garanti BBVA and Garanti BBVA Consumer Finance. Garanti BBVA Group Romania is held by Garanti BBVA Turkey (TGB), whose majority shareholder is the Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA).
The Black Sea Trade and Development Bank is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. Headquartered in Thessaloniki, Greece, the bank supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries.