This is the third loan meant for SME financing that IFC grants to a division of Garanti Group in Romania and the first granted to Garanti Leasing, IFC said in a statement Monday.
This is also the first IFC loan to a financial institution in ROmania targeting energy efficiency and renewable energy projects, said Ana Maria Mihaescu, head of the IFC mission to Romania.
Garanti Leasing is part of Garanti Romania since 2010. The group also includes Garanti Bank, Garanti Credite de Consum and Garanti Credite Ipotecare.
IFC invested over $2.2 billion in Romania since 1990.