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IFC and Garanti Leasing Support Women Entrepreneurs in Romania

Bucharest, May 24, 2017 —IFC, a member of the World Bank Group, has provided a €5.5 million loan to Garanti Leasing, part of Garanti Romania, one of the most dynamic financial groups on the local market , for financing small and medium enterprises (SMEs) owned or managed by women.
Thanks to the agreement, Garanti Leasing will become the first leasing company in Romania directly financing women - owned or -managed SMEs. The company is continuing Garanti Bank’s strategy of supporting women entrepreneurs.
This is the third agreement signed by IFC with Garanti Group Romania targeting women entrepreneurs and improving their access to finance. IFC previously provided long term loans to Garanti Bank in 2011 (€22.5 million) and 2014 (€35 million) for onlending to businesses in Romania owned or managed by women.
“Garanti Leasing, as part of Garanti Group, has an ongoing strategy of supporting companies with women shareholders or women in their top management structures,” said Okan Yurtsever, General Manager, Garanti Leasing. “ With this new loan , we enforce our long-term commitment to encouraging this segment. In the months to come , we will focus on healthy sustainable growth in the local market and in further diversifying our portfolio of financed assets.”
Garanti Leasing is a strong supporter of Romanian SMEs and has previously received €7 million from IFC in this regard . In the first quarter of 2017, Garanti Leasing granted new financing worth €21.87 million.
“IFC is actively supporting women entrepreneurs in Romania through its work with Garanti Group,” said Manuel Reyes-Retana, IFC Regional Head for Financial Institutions Group in Europe, Middle East and North Africa. “Following our loans to Garanti Bank, we are now also engaging with Garanti Leasing to reach even more women entrepreneurs and increase their access to finance , so they can grow their businesses and generate new employment.”
The private sector is a key catalyst for creating more and better jobs for women and IFC will continue its work to help develop Romania’s private sector and support women entrepreneurs , directly or through its partner institutions in the country.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with 2,000 businesses worldwide, we use our six decades of experience to create opportunity where it’s needed most. In FY16, our long-term investments in developing countries rose to nearly $19 billion, leveraging our capital, expertise and influence to help the private sector end extreme poverty and boost shared prosperity. For more information, visit
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About Garanti Leasing
With a tradition of almost 20 years on the Romanian leasing market, Garanti Leasing (the brand under which the company Motoractive IFN SA operates) completes Garanti Group’s range of products and services with offers for vehicles, equipment and real estate leasing, sale & lease-back. The company has disbursed over EUR 800 million for assets under finance leases and entered into over 51,000 lease contracts since its inauguration, currently operating from eight offices and creating synergies with Garanti Bank’s branches.
Garanti Leasing is part of the financial-group Garanti Romania since 2010. The Group also brings together Garanti Bank and Garanti Consumer Finance (the brand under which Ralfi IFN operates). Garanti Group is held by Turkiye Garanti Bankasi AS (TGB), Turkey’s second largest private bank. TGB is a universal bank with leading presence in all business lines. The bank serves more than 14 million customers in corporate, commercial, SME, and consumer segments offering fully integrated financial services. The Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA) is the majority shareholder of TGB, with a 49.85 percent share. For further details, please visit .