According to the Bank’s website, the project entails an up to EUR20 million, up to 5-year with 1-year grace senior loan for IFC’s own account, under the COVID-19 Base of the Pyramid Program, to Patria Bank SA, a publicly listed commercial bank on the Bucharest Stock Exchange. IFC’s loan will be used to increase access to finance for micro, small and medium enterprises (“MSMEs”) in Romania with 50 percent of proceeds earmarked to women-owned SMEs (“WSMEs”). The Project is expected to be supported by WEOF and We-Fi in the form of a performance-based incentive (PBI) of up to US$0.112 million (equivalent to up to 0.56% of the total project cost of EUR 20 million) to incentivize on-lending to underserved WSMEs and WVSEs in Romania.
Further information on these Enhanced Principles, IFC’s blended finance approach and governance and details and historical information on estimated subsidy levels in IFC’s blended finance portfolio can be found at: www.ifc.org/blendedfinance.
Patria Bank SA
Capital Markets and Investor Relations Department
+40 372 148 165
42 Pipera Street, 10th Floor, Bucharest, Romania
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