IFC Supports Garanti BBVA Leasing to Boost Financing for Small Businesses in Romania, Accelerate Recovery

IFC's EUR10 million loan to Garanti BBVA Leasing Romania, a dynamic financial group in the local market, will help small businesses in the country continue their operations, protect jobs, and accelerate recovery. Small and medium-sized enterprises (SMEs) will improve their access to finance with a new investment that aims to support SMEs, including women entrepreneurs impacted by the COVID-19 pandemic.

In Romania, 34 percent of formal micro, small, and medium enterprises (MSMEs) are women-owned, however they continue to represent an underserved segment of the SMEs in the country, according to the latest MSME Finance Gap database. With this investment from IFC, Garanti Leasing will be able to expand its lending program and support SMEs in Romania, with at least 40 percent of the funding earmarked for businesses owned or managed by women.