Financed ProjectsGaranti Bank, RO

Identification Code:

OP/18/0067

Total Operation Cost:

20.000.000

Maturity:

36 months

Operation Status:

Description and Purpose of the Operation:

Garanti Bank, RO

Countries of Operation:

Romania (100,00 %)

Financial Product:

SME's

Sector:

Financial Institutions

Domain:

Private

Borrower/Client:

SME Facility to Garanti Bank

Co-Financiers/Participants:

n/a

Guarantors/Sponsors:

n/a

Developmental and Regional Cooperation Impact:

The operation will have favorable but limited economic benefits for the Romanian economy, the most relevant being the tax revenue gains from economic activity, increase in employment, increase in export capacity and competitiveness, and multiplier effects for other parts of the economy. The regional cooperation element is expected to be modest given the size of the loan compared to the size of Romanian economy. Other BSTDB countries are important trade partners for Romania so to the extent SMEs benefiting from financing from the operation engage in export activities with other BSEC countries, there will be regional cooperation benefits.

Environmental Classification and Impact (summary):

The environmental and social (E&S) due diligence findings reveal that the Borrower has instituted an E&S Management System commensurable with the nature of its business and had integrated it in its portfolio cycle. The portfolio analysis shows that most of its operations are of low to medium E&S risks. The existing institutional capacity is considered adequate. The Borrower follows its own Exclusion List, which is compliant to the BSTDB’s E&S Exclusion List.

Operation Leader:

Financial Institutions I

E-mail:

fi1@bstdb.org