Financed ProjectsGaranti Leasing IV

Identification Code:

OP/24/0037

Total Operation Cost:

20.000.000

Maturity:

48 months

Operation Status:

Description and Purpose of the Operation:

Garanti Leasing IV

Countries of Operation:

Romania (100,00 %)

Financial Product:

SME's

Sector:

Financial Institutions

Domain:

Private

Borrower/Client:

4th SME Leasing Facility to Garanti Leasing

Co-Financiers/Participants:

n/a

Guarantors/Sponsors:

n/a

Developmental and Regional Cooperation Impact:

The operation involves EUR 20 million SME Leasing facility to Garanti Leasing in Romania. The operation will have a positive developmental impact, albeit a modest one given the amounts. Additionally, the operation has a strong regional cooperation element, as Garanti Leasing in Romania is owned by a bank in Turkiye. Therefore, the operation meets BSTDB’s dual mandate of contributing to economic development and enhancing regional cooperation.

Environmental Classification and Impact (summary):

The environmental and social (E&S) due diligence findings reveal that though the Borrower does not have a formalized E&S management system that would cover the E&S risks that may arise from leasing activities, it legally requires in its leasing contracts that their clients will ensure the use and operation of each asset financed, by properly trained and qualified persons and only in normal work as intended, respecting all manufacturer's instructions and all legal rules and regulations including environmental protection and health and safety of its employees, customers and any other persons.

Operation Leader:

Financial Institutions I

E-mail:

fi1@bstdb.org