PROJECT

Projects

Summary of Investment Information

Project Number

34577

Company Name

MOTORACTIVE IFN SA

Date SPI Disclosed

Jul 14, 2014

Country

Romania

Region

Europe

Projected Board Date

Aug 25, 2014

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Global Industry, Financial Markets

Industry

Financial Markets

Previous Events

Approved : Sep 8, 2014
Signed : Oct 27, 2014
Invested : Nov 5, 2014

Sector

Leasing Services

Project Description

The proposed project consists of a senior loan facility of EUR7 million to Motoractive IFN SA (“GLR”). The purpose of the loan is on-lending to SME’s and EUR4 million has been earmarked to finance eligible renewable energy and sustainable finance projects.
The project is the first SME and Sustainable Energy finance transaction between IFC and a leasing company in Romania.
Established in 1998, Motoractive IFN SA is the 8th largest leasing company in Romania with a market share of 4.2% as at December 2013. In 2010 Turkiye Garanti Bankasi (“TGB”) became the largest shareholder of Motoractive IFN SA and rebranded it as Garanti Leasing Romania in 2011.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation