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Bucharest, Romania, October 14, 2009
—IFC, a member of the World Bank Group, today announced it will provide a €50 million loan to Banca Transilvania that will enable the bank to expand financing for private health care providers in Romania, helping increase access to medical care.
The investment will support development of the country’s private health care sector by assisting medical providers who are looking for bank financing to set up or build their private practice.
“This loan will enable us to continue lending and expand our strong presence in Romania’s health care sector,” said Robert C. Rekkers, CEO of Banca Transilvania. “In the context of the current crisis in international markets, this major transaction shows that Banca Transilvania has strong business partners and can continue to access resources to support local development.”
Shahbaz Mavaddat, IFC Director for Southern Europe and Central Asia, said, “IFC is supporting Romanian health care professionals by providing them with access to finance and helping them to start, expand, or modernize their operations. As a result, the citizens of Romania will benefit with increased standards of health care.”
IFC’s loan to Banca Transilvania also will help the country retain qualified health care professionals by expanding employment opportunities in the private health care sector.
About IFC
IFC, a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. We foster sustainable economic growth in developing countries by supporting private sector development, mobilizing private capital, and providing advisory and risk mitigation services to businesses and governments. Our new investments totaled $14.5 billion in fiscal 2009, helping channel capital into developing countries during the financial crisis. For more information, visit
www.ifc.org
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About Banca Transilvania S.A.
Banca Transilvania® is among the top banks in Romania, in terms of assets. It has majority Romanian capital and the European Bank for Reconstruction and Development, which holds 15 percent of share capital, is a significant shareholder. The bank is a nationally represented financial institution, with over 500 units. It was the first banking institution in Romania to be listed on the Bucharest Stock Exchange in 1997. Its four main business lines are retail, SME, corporate, and health care. For more information, visit
www.bancatransilvania.ro
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