IFC Lends Support to UniCredit Leasing to Enhance SME and Climate Financing in Romania
IFC, a member of the World Bank Group, is lending its support to UniCredit Leasing Corporation (UCLC), Romania's top leasing company, to increase access to finance for small and medium sized enterprises (SMEs) and to provide more climate finance to its clients across the country. The EUR 27.5 million investment will generate jobs, boost energy-efficiency measures, and help reduce carbon emissions.
Access to finance for businesses in Romania, particularly for micro, small and medium sized enterprises, is limited and the country has a reduced level of financial intermediation. IFC's investment will help bridge this financing gap, with UCLC directing 60 percent of it to SMEs and at least 40 percent to climate-related projects.