The collaboration will help address the liquidity constraints that micro, small, and medium enterprises are facing in the country, supporting economic stability.
This placement is the first-ever senior preferred bond issuance by Banca Comercială Romana S.A., Romania's second-largest bank.
ACBA has committed to use the proceeds of the Sustainability Bond for both social and green projects, in line with the ICMA Sustainability Bond Principles.
Research finds that the Symbiotics portfolio is recovering from the crisis stemming from the pandemic and its partners from the Caucasus region are following a similar trend, but at a slower pace.
The proceeds will be used to fund solely green projects: renewable energy (C&I solar, roof-top solar), hydro power, and biomass energy.
IFC Supports Garanti BBVA Leasing to Boost Financing for Small Businesses in Romania, Accelerate Recovery
Small and medium-sized enterprises in Romania will improve their access to finance with a new investment that aims to support SMEs, including women entrepreneurs impacted by the COVID-19 pandemic.
Micro and small enterprises (MSEs) in Kazakhstan stand to benefit from a new investment which aims to help businesses recover from the economic shock of the COVID-19 pandemic, resume operations, and adapt to the post-crisis environment.
Microenterprises and SMEs will benefit from the Social loans to encourage employment creation and business activity in the country.
IFC Partners With Evocabank to Support Smaller Businesses, Boost Resilience and Drive Recovery in Armenia
Even before the COVID-19 crisis, access to finance was the biggest obstacle for doing business in Armenia. Has it increased following the pandemic?
The proceeds of the Sustainability Bond will be used to finance both Social and Green eligible loans. The Social loans will be granted towards microenterprises and SMEs, stimulating the generation of employment in the country.