PROJECT

Projects

Summary of Investment Information

Project Number

46792

Company Name

GARANTI BANK SA

Date SPI Disclosed

Sep 9, 2022

Country

Romania

Region

Europe

Projected Board Date

Oct 11, 2022

Environmental Category

FI-3 - No Impact

Status

Active

Last Updated Date

Dec 2, 2022

Department

Regional Industry FIG LAC & EUR

Industry

Financial Markets

Previous Events

Approved : Oct 19, 2022
Signed : Nov 18, 2022
Invested : Nov 30, 2022

Sector

Commercial Banking - Housing Finance

Project Description

  The proposed investment is an up to EUR40 million senior unsecured loan to Garanti Bank S.A. in Romania (hereinafter “GBRO” or the “Bank”) for a tenor of up 7 years, to be disbursed in Euro and/or Romanian Lei (RON). The loan proceeds will be entirely used to finance green housing loans for eligible borrowers in Romania, as defined per IFC’s eligibility criteria (the “Project”).  

Associated Advisory Engagement

          

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation