PROJECT

Projects

Summary of Investment Information

Project Number

41800

Company Name

GARANTI BANK SA

Date SPI Disclosed

Oct 22, 2018

Country

Romania

Region

Europe

Projected Board Date

Nov 30, 2018

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

May 17, 2024

Department

Regional Industry - FIG - ECA

Industry

Financial Markets

Previous Events

Approved : Dec 18, 2018
Signed : Dec 21, 2018
Invested : Jan 17, 2019

Sector

Commercial Banking - SME Finance

Project Description

 The proposed project consists of a senior loan of up to EUR55 million or its equivalent in Romanian Leu (RON) to an existing IFC client, Garanti Bank S.A., Romania (“Garanti Bank” or “the Bank”). The purpose of the loan is on-lending to small and medium enterprises in Romania, out of which, half must be allocated to funding eligible sustainable energy finance projects (“the Project”). The proposed investment is consistent with IFC’s strategy in Romania and would help a good existing IFC client to expand its SME reach with focus on mitigating climate change impact.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation