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Patria Credit IFN SA

Romania | Financial Institutions

Identification Code:: OP/13/0030
Total Operation Cost:: — EUR
Maturity:: 60 months
Operation Status:: BSTDB Approved Amount – Approval Date

7.000.000 EUR – 20 Sep 2013
: BSTDB Signed Amount – Signed Date

7.000.000 EUR – 03 Dec 2013
: Status:
Completed
Description and Purpose of the Operation:: The facility will support Patria Credit's activities and diversify its funding sources. The proceeds of the facility shall be used by the Borrower exclusively for the purpose of financing sub-loans eligible in accordance with the eligibility criteria.
Countries of Operation:: Romania (100,00%)
Financial Product:: SME's
Sector:: Financial Institutions
Domain:: Private
Borrower/Client:: .
Co-Financers/Participants:: —
Guarantors/Sponsors:: —
Developmental and Regional Cooperation Impact:: Microfinance has proven a useful tool to fight poverty helping to increase economic activity among some of the lowest income segments of the population. Microfinance helps entrepreneurs develop and creates new positions of employment. The facility is expected to have modest but favorable economic benefits for the Romanian economy, the most relevant being additional tax revenue gains from increased economic activity. The regional cooperation element is similarly expected to be modest. Other BSTDB countries are important trade partners for Romania so to the extent SMEs benefiting from the operation engage in export activities, there will be regional cooperation benefits.
Environmental Classification and Impact:: Screened as FI Category. Patria Credit is required to continue to adhere to the established internal rules and procedures for environmental risk assessment; remain compliant with national environmental legislation in effect; follow the BSTDB Environmental and Social Exclusion List; and submit annual environmental performance report.
Operation Leader:: Financial Institutions I
E-mail:: fi1@bstdb.org