PROJECT

Projects

Summary of Investment Information

Project Number

48270

Company Name

MOTORACTIVE IFN SA

Date SPI Disclosed

Jun 23, 2023

Country

Romania

Region

Europe

Projected Board Date

Jul 31, 2023

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Oct 14, 2023

Department

Regional Industry FIG LAC & EUR

Industry

Financial Markets

Previous Events

Approved : Sep 28, 2023
Signed : Sep 29, 2023
Invested : Oct 12, 2023

Sector

Other Non-Banking Financial Institution (NBFI)

Project Description

The proposed investment consists of a senior unsecured loan of up to EUR20 million (equivalent to US$21.35 million) for IFC’s own account to Garanti BBVA Leasing Romania (GLR or the Company) registered as Motoractive IFN SA, one of the top 10 leasing companies in Romania. The loan will have a tenor of 5 years and 1 year grace period and will be disbursed in EUR. The loan proceeds are earmarked for financing eligible small and medium enterprises in Romania (SMEs) with at least 80% on-lent to climate related projects and 25% targeted to Women-owned SMEs. 

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation