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Garanti BBVA and EIF partner to offer a minimum €30 million in guarantees, to support Romanian companies

Bucharest, 31 October 2024 – Garanti BBVA and the European Investment Fund (EIF) have signed a strategic agreement to provide guarantees of a minimum of 30 million euros, to enhance Romanian companies` competitiveness and sustainability. The InvestEU guarantees will enable Garanti BBVA to facilitate a minimum of €42 million in financing for small and medium-sized enterprises (SMEs) across Romania, driving growth and supporting the country’s transition to a sustainable economy.

Through this collaboration with EIF, Garanti BBVA is launching two new guarantee programs designed to address key challenges for Romanian enterprises. The SME Competitiveness Guarantee Program aims to increase access to financing and stimulate lending, which faced significant obstacles during and after the COVID-19 crisis. Meanwhile, the Sustainability program supports companies transitioning towards greener, more sustainable investments, which is essential to the sustainable transformation of Romania’s economy.

“This partnership with the European Investment Fund marks an important step in Garanti BBVA’s mission to support Romanian companies in their effort toward increased competitiveness and sustainability. The financing opportunities we bring to the market with the InvestEU guarantee reflect our commitment to facilitating Romania’s economic growth while contributing to its transition to a greener economy. By improving access to capital and promoting sustainable projects, Garanti BBVA confirms its role as a reliable partner for Romanian businesses in every stage of their development”, said Bilge Demirer, Deputy General Manager, Enterprise Banking Area, Garanti BBVA Romania.

In the framework of these programs, Garanti BBVA is focused on delivering advantageous financing solutions to Romanian businesses. Eligible companies will benefit from more advantageous terms, including access to larger loan amounts, extended financing periods, and preferential interest rates. These conditions are designed to facilitate access to finance and improve the competitiveness and sustainability of Romanian companies.

Through the SME Competitiveness Guarantee Program, companies can expect a guarantee rate of 50% to 70%, depending on specific eligibility criteria, enabling Garanti BBVA to extend financing to companies with reduced collateral. The sustainability Guarantee Component, with a guarantee percentage of 70%, is exclusively dedicated to companies developing green and sustainable projects. The guarantee is backed by InvestEU, the European Union’s funding program and by Romania’s National Recovery and Resilience Plan (PNRR).

 

The collaboration between Garanti BBVA and the EIF represents a strong effort to help Romanian businesses thrive in a challenging economic environment, opening pathways for long-term growth and resilience. Through the dual focus on competitiveness and sustainability, the bank aims to provide SMEs with the resources and incentives they need to stay competitive and embrace the green economy.

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About Garanti BBVA

Garanti BBVA is part of the Garanti BBVA Romania Group, along with Garanti BBVA Leasing, Garanti BBVA Consumer Finance, and Garanti BBVA Fleet Management, which complement the bank’s offering with specific leasing products, fleet management services, and consumer loans. In 2023, the bank celebrated 25 years of active presence in the Romanian banking system.

Garanti BBVA Romania is owned by Garanti BBVA, the second-largest private bank in Türkiye per consolidated asset size. The Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA) is the majority shareholder of Garanti BBVA.

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About EIF

The EIF is part of the EIB Group (European Investment Bank). It supports small businesses in Europe by improving access to finance through a wide range of selected financial intermediaries such as banks, guarantee and leasing companies, microcredit providers and private equity funds. The EIF designs and provides equity and debt financing instruments that promote the EU’s objectives of supporting entrepreneurship, growth, innovation, research and development, the green and digital transition and employment. Since its founding, the EIF has provided financing worth EUR 3.1 billion through 119 contracts in Romania, while the EIB has provided expertise and financing for 179 investment projects worth EUR 17.73 billion in Romania since 1991.

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