GARANTI BANK ROMANIA LOAN FOR SMES & MIDCAPS II

Promoteur – Intermédiaire Financier

GARANTI BANK SA

Lieu

• Roumanie

Description

The project consists of a loan for financing eligible projects promoted by small and medium sized enterprises (SMEs) and Midcaps in Romania.

Additionality and Impact

Operation aims to help mitigate market failure of SME and Midcaps' insufficient access to long term funding for their investments at low financing costs. By addressing these market gaps, which are more acute in Romania compared to EU average, project in particular supports strengthening of EU's economic, social and territorial cohesion (85% expected to be implemented in cohesion regions). The Small size of SMEs makes them more vulnerable to economic cycles and more constrained in opportunities for growth. Most important contributions of EIB loan will be: long term funding in local currency, diversification of external funding, and signalling effect for other financiers to provide similar long-term loans to Borrower. Finally, 30% of the loan amount will be specifically dedicated to Climate Action.

Objectifs

Enhance access to finance for SMEs.

Secteur(s)

• Lignes de crédit - Lignes de crédit

Montant BEI envisagé (montant approximatif)

EUR 24 million

Coût total (montant approximatif)

not applicable

Aspects environnementaux

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Passation des marchés

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Statut

Signé - 19/06/2023