IFC lends EUR 4 mln to Garanti Leasing for renewable energy financing

Newsroom 27/10/2014 | 15:51

Garanti Leasing, part of Garanti Romania, announced it has received EUR 4 million from the International Finance Corporation (IFC), member of World Bank Group, to finance energy efficiency and renewable energy projects.

The EUR 4 million sum is part of a EUR 7 million loan that Garanti Leasing is receiving from the IFC, aiming to finance small and medium sized enterprises. This is the third loan IFC grants to a Garanti Group institution, with the purpose of financing SMEs, and the first for Garanti Leasing. In February 2012 and earlier this year IFC granted Garanti Bank two loans, amounting to EUR 57.5 million in total.

“Funding SMEs has been one of our top priorities in 2014. Our strategy in the months to come is to continue our healthy sustainable growth, expanding our market share and diversifying our portfolio of financed assets, while focusing on SMEs and the public sector,” said Okan Yurtsever, general manager of Garanti Leasing.

In the first semester, Garanti Leasing granted new financing worth EUR 36.2 million, a 68 percent increase compared to the same period last year. The distribution of new assets funded by Garanti Leasing, in the first half of the year, was: vehicles (64 percent), equipment (30 percent) and real estate (6 percent). At the end of this year’s first semester, the company had a net profit of EUR 1.34 million.

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