Bucharest, June 12th – Garanti BBVA Romania has signed a new financing agreement, amounting to EUR 40 million with the International Finance Corporation (IFC), a member of the World Bank Group. The five-year senior unsecured loan is aimed at supporting women-owned enterprises in Romania.
Through this renewed partnership, Garanti BBVA Romania reaffirms its long-term commitment to promoting financial inclusion, by channeling funds to micro, small, and medium-sized enterprises (W-MSMEs) owned by women.
“Supporting women-owned businesses is a strategic priority for Garanti BBVA Romania. We are honored to continue our strong collaboration with IFC and to contribute, through this new agreement, to the sustainable development of Romania’s business environment. Women entrepreneurs play an increasingly vital role in the economy, and our mission is to stand by them with dedicated financial solutions and trusted partnerships,” said Mustafa Tiftikcioğlu, CEO of Garanti BBVA Romania.
“Advancing financial inclusion for women is one of key pillars of IFC’s work in Romania,” said Marcelo Castellanos, IFC’s Senior Country Manager for Southeastern Europe. “This project builds on our longstanding partnership with Garanti BBVA and represents our first investment in the country fully dedicated to women-owned and women-led businesses.”
In recent years, Garanti BBVA has secured nearly EUR 105 million in financing from international institutions, that included components aimed at supporting women entrepreneurs. Out of this amount, EUR 82.5 million was attracted from the International Finance Corporation (IFC).
Currently, statistics show that nearly 620,000 women in Romania are shareholders or partners in active companies, accounting for over 36% of ownership structures. Additionally, approximately 187,000 women are sole proprietors or members of sole trader businesses, individual or family enterprises, representing 40% of all individuals involved in such economic entities, according to data from the National Trade Register Office (ONRC).
This new agreement builds on the long-standing collaboration between the two institutions, which began in 2012, and further strengthens their shared commitment to supporting local enterprises and sustainable economic development.
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About Garanti BBVA Romania
The bank Garanti BBVA is part of the Garanti BBVA Romania Group, along with Garanti BBVA Leasing and Garanti BBVA Fleet Management, which complement the bank’s offering with specific leasing products and fleet management services. In 2023, the bank celebrated twenty-five years of active presence within the Romanian banking system.
Garanti BBVA România is owned by Garanti BBVA Turkey (TGB), the second-largest private bank in Türkiye, having as majority shareholder, the Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA).
For more information, please visit: www.garantibank.ro and www.garantileasing.ro
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About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2024, IFC committed a record $56 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet.
For more information, visit www.ifc.org.
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