Summary of Proposed Investment
Project Number
26504
Company Name
BANCA TRANSILVANIA SA
Date SPI Disclosed
Apr 11, 2008
Country
Romania
Industry
Financial Markets
Projected Board Date
May 12, 2008
Status
Completed
Sector
Commercial Banking - Microfinance and Small Business
Date Revised SPI Disclosed
Jul 29, 2008
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : Sep 25, 2008
Signed : Oct 10, 2008
Invested : Nov 3, 2008
Project Description
The proposed transaction consists of
- a senior loan of up to EUR30 million equivalent comprising a EUR15 million 10-year tranche for mortgage on-lending and a EUR15 million 7-years MSME tranche and
- a syndicated loan of a much larger amount for general business purposes.
This project aims to work with a locally-owned bank and longstanding partner of IFC, Banca Transilvania (BT) in expanding access to long-term finance for key market segments that remain underserved despite the overall strides made by the Romanian banking sector. These market segments include low and middle income mortgages and the MSME segment, including those located in the frontier regions of Romania. Increasing access to finance in frontier regions, for the above mentioned market segments is key to upgrading the financial infrastructure in Romania which in turn will be crucial in aiding Romania’s integration within the EU, a cornerstone of the World Bank Group strategy.
- a senior loan of up to EUR30 million equivalent comprising a EUR15 million 10-year tranche for mortgage on-lending and a EUR15 million 7-years MSME tranche and
- a syndicated loan of a much larger amount for general business purposes.
This project aims to work with a locally-owned bank and longstanding partner of IFC, Banca Transilvania (BT) in expanding access to long-term finance for key market segments that remain underserved despite the overall strides made by the Romanian banking sector. These market segments include low and middle income mortgages and the MSME segment, including those located in the frontier regions of Romania. Increasing access to finance in frontier regions, for the above mentioned market segments is key to upgrading the financial infrastructure in Romania which in turn will be crucial in aiding Romania’s integration within the EU, a cornerstone of the World Bank Group strategy.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Mihaela Nadasan, Director, International Relations
8, Baritiu Str, zip code 400027, Cluj-Napoca, Romania
Telephone: 0040 0264/407150
Fax: 0040 0264/407179
8, Baritiu Str, zip code 400027, Cluj-Napoca, Romania
Telephone: 0040 0264/407150
Fax: 0040 0264/407179
For Inquiries and Comments About IFC, Contact
General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster