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Garanti Bank, RO

Romania | Financial Institutions

Identification Code:: OP/18/0067
Total Operation Cost:: 20.000.000 EUR
Maturity:: 36 months
Operation Status:: BSTDB Approved Amount – Approval Date

20.000.000 EUR – 15 Jun 2019
: BSTDB Signed Amount – Signed Date

N/A – N/A
: Status:
Cancelled
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-Financers/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:: 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