As stated by the IFC, the proposed investment consists of a senior unsecured loan of up to EUR20 million for IFC’s own account to Garanti BBVA Leasing Romania registered as Motoractive IFN SA, one of the top 10 leasing companies in Romania. The loan will have a tenor of 5 years and 1 year grace period and will be disbursed in EUR. The loan proceeds are earmarked for financing eligible small and medium enterprises in Romania with at least 80% on-lent to climate related projects and 25% targeted to Women-owned SMEs.
The IFC categorized the project as FI-2.
As stated by the IFC, GLR was established in 1998 and is indirectly 100% held by Türkiye Garanti Bankasi A.S. (TGB) based in Turkey, through two holding companies in the Netherlands. TGB in turn is majority owned by Banco Bilbao Vizcaya Argentaria (BBVA). BBVA is a Spain-based global financial services company and the third-largest banking group in Spain, with total assets of US$740 billion as of March 31, 2023. Founded in 1857, BBVA serves 89.3 million customers in 30 countries. Outside its home market of Spain (43% of operations), it has a major presence in Mexico (19%), Turkey (9%), South America (8%), and others (7%).
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|Banco Bilbao Vizcaya Argentaria (BBVA)||Parent Company||Finance||owns||Turkiye Garanti Bankasi A.S.||Parent Company||Finance|
General IFC Inquiries - IFC Communications:
Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384
Financial Intermediary - Garanti BBVA Leasing:
Okan Yurtsever - Chief Executive Officer
Phone: +40 21387 87 00
Address: Motoractive IFN S.A., Soseaua Fabrica de Glucoza nr. 5, Bucharest, Romania
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