At least 30% of this amount will be used specifically to finance projects focusing on environmental protection in Romania, according to bank representatives.
The loan will support sustainability-oriented SMEs and mid-caps in Romania, which further translates into a greener Romanian 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 (…)”, stated Mustafa Tiftikcioğlu, CEO of Garanti BBVA Romania.
Garanti BBVA and the EIB have a long-standing partnership, dating back to 2018, and by 2023, the year in which the bank celebrates 25 years of activity in the Romanian market, we have benefited from loans totalling EUR46.7 million, money that has been directed towards supporting SMEs and mid-caps in Romania, as well as green projects.
”(…) 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.
Garanti BBVA Romania is owned by Garanti BBVA (TGB), Turkey’s most valuable and second largest private bank. The majority shareholder of Garanti BBVA Turkey is Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA).