Garanti BBVA in Romania strengthens its long-term partnership with the European Investment Bank (EIB) and signs a new loan agreement of EUR 24.4 million to support access to finance for SMEs. At least 30% of this amount will be used specifically for financing projects dedicated to environmental protection in Romania.
The loan will be intended to support SMEs oriented towards sustainability in Romania, which will further translate into a more ecological Romanian economy.
“We have a tradition of concluding partnerships of this kind with renowned international financial institutions, including the EIB, which provides us with the necessary support to achieve our goal of creating opportunities for SMEs in Romania and, implicitly, to support the local economy. Garanti BBVA has taken steps over the last years of activity to encourage sustainable initiatives and responsible behaviors among customers, both SMEs and is committed to continuing in this direction. I am glad to have the support of the EIB in 2023 as well and I am convinced that through this loan granted by the EIB, we will take important steps to further support our customers in terms of sustainable financing,” – said Mustafa Tiftikcioğlu, CEO at Garanti BBVA Romania.
Garanti BBVA and the EIB have a long-term partnership, which dates back to 2018, and until 2023, the year in which the bank celebrates 25 years of activity on the Romanian market, the Bank benefited from loans totaling EUR 46.7 million, money that was directed to supporting SMEs in Romania, and ecological projects.
“We are very happy to cooperate so well with Garanti BBVA in supporting small Romanian businesses. This agreement will make financing more accessible for companies in Romania, and for those investing in climate action, and will support a greener, more inclusive, and more sustainable Romanian economy,” – said Lilyana Pavlova, Vice President at the EIB.
The EIB Group is a strong supporter of small businesses, and in the last five years, the EIB has invested EUR 2.85 billion in Romania, to support SMEs.
Source: the Bank`s press release dated June 22, 2023
