Garanti BBVA signs a EUR 24.4 million loan agreement with EIB to support SMEs and mid-caps

Garanti BBVA strengthens its long-term partnership with the European Investment Bank (EIB) and signs a EUR 24.4 million loan agreement to support access to financing for small businesses and mid-caps. At least 30% of this amount will be used specifically to finance projects focusing on environmental protection in Romania.

The loan will support sustainability-oriented SMEs and mid-caps in Romania, which further translates into a greener Romanian economy.

”We have a tradition of concluding partnerships of this kind with reputable financial institutions, including the European Investment Bank, which provide us with the financial support we need to achieve our goal of creating opportunities for SMEs and mid-caps in Romania and, therefore, supporting the local economy. Garanti BBVA has taken steps over the last few years of activity to encourage sustainable initiatives and responsible behaviour among our clients, both SMEs and large companies and we will continue in this direction. I am pleased to have the EIB’s support again in 2023 and I am confident that through this loan granted by EIB we will take significant steps to further support our customers in terms of sustainable finance”, stated Mustafa Tiftikcioğlu, CEO of Garanti BBVA Romania.

Garanti BBVA and the EIB have a long-standing partnership, dating back to 2018, and by 2023, the year in which the bank celebrates 25 years of activity in the Romanian market, we have benefited from loans totalling EUR 46.7 million, money that has been directed towards supporting SMEs and mid-caps in Romania, as well as green projects.

”We are very happy to cooperate so fruitfully with Garanti BBVA in supporting SMEs and mid-caps in Romanian. This agreement will make financing more accessible for businesses in Romania, most of which is formed of cohesion regions, as well as for those investing in climate action, and it will support a greener, more inclusive and sustainable Romanian economy.”, said Lilyana Pavlova, Vice-President of the European Investment Bank.

The EIB Group is a strong supporter of small businesses and over the last five years the EIB has invested EUR 2.85 billion in support of SMEs and mid-caps in Romania.