EUR 35 M loan from IFC to Garanti Bank Romania


The International Finance Corporation (IFC) recently approved a EUR 35 million loan to Garanti Bank Romania to finance small and medium businesses in the country. Most of the funding, EUR 20 million, will go to companies owned or managed by women, a press release informs. This is IFC’s second loan to Garanti specifically designed to support women entrepreneurs in Romania. In 2012, IFC provided a EUR 22.5 million loan to Garanti to back more than 160 small and medium companies in the textile industry, trade, construction, tourism, and services. There are more than 400,000 women entrepreneurs in Romania, representing about a third of shareholders and associates in local firms.

 

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