IFC granted addition guarantees of over $500 million to eight banks that joined the Global Trade Finance (GTFP), which supports trade in emerging markets by providing partial or full guarantees for individual trade transactions backed by IFC’s triple-A rating.
Overall, IFC invested over $900 million in Romania between 2008 and 2015 from own sources and attracted foreign investments of almost $300 million in 30 projects from various sectors, according to Ana-Maria Mihaescu, Chief of IMF Mission to Romania.
Romanian lenders BCR, Banca Transilvania, UniCredit Bank,Raiffeisen Bank, Garanti Bank, Bancpost and Banca Romaneasca are some of the banks that collaborated with IFC during the financial crisis period.
“While vulnerability in the Eurozone and the world’s economic recession are continuing, IFC will further play an anti-cyclical role in the private sector, with the investment involvement being due to reduce gradually, according to market conditions. IFC will selectively take under consideration investments, in banks and sectors with a very powerful impact upon the development in the borderline areas or in the agriculture, weather changes, infrastructure, health and education. Between 2008-2015, IFC has invested around $933 million from own sources and attracted foreign investments of nearly $277 million in 30 projects from various fields,“ Ana-Maria Mihaescu, IFC’s regional manager EU8 and Moldova told ZF.
(English version by Manuela Panescu)