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Garanti BBVA Leasing, EFSE signed loan of 7 million euros to financesmall companies in Romania

Garanti BBVA Leasing, part of Garanti BBVA Romania Group, announced on Thursday that it had signed an accord for the loan of 7 million euros with the European Fund for South Eastern Europe (EFSE) to grant financing to small and very small companies in Romania.

Garanti BBVA Leasing, a partner of EFSE since 2014, is one of the main players in the leasing market in Romania. The new financing will be used to extend the leasing offer of the institution for small local enterprises, a segment which was strongly affected by the economic

effects of the pandemic. The leasing is offering an important long term financing source for small and very small companies which do not always have substan?ial guarantees needed for bank loans.

Garanti BBVA Leasing (the name of the company Motoractive IFN SA) is part of the financial group Garanti BBVA Romania. The group includes Garanti BBVA and Garanti BBVA Consumer Credits. Garanti BBVA Romania group is owned by Garanti BBVA Turkey, whose majority shareholder is the Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA).

Set up in 2005, EFSE is an impact investment fund which intends to favor economic development and prosperity in South-Eastern Europe and countries of the Eastern Partnership, investing in the success of small and very small companies as well as in improving living conditions in private households.

EFSE was initiated by Development Bank KfW with the financial support of the Federal German Ministry for Cooperation and Economic Development (BMZ) and the European Commission. As the first public- private partnership of the kind, the EFSE capital comes from donor agencies, international financial institutions and private institutional investors. Finance in Motion GmbH of Germany activates as EFSE consultant and Hauck & Aufhauser Fund Services SA of Luxembourg as manager.