BUCHAREST (Romania), May 17 (SeeNews) – Garanti BBVA Leasing, part of Garanti BBVA Romania, announced on Monday that it has signed a 20 million euros ($ 24.2 million) loan agreement with Banque de Black Sea Trade and Development (BSTDB).
The loan facility will be used to provide leasing contracts to small and medium-sized enterprises (SMEs) for the acquisition of equipment, machinery and vehicles, Garanti BBVA said in a press release.
“SMEs represent an important segment of the Romanian economy, and we want to continue to be a strong and trusted partner, helping our clients to develop their projects and activities”, said Okan Yurtsever, Managing Director of Garanti BBVA Leasing .
This is the third agreement signed by Garanti BBVA Leasing and BSTDB which aims to strengthen Romanian SMEs and their development in times of uncertainty. Previously, the two institutions joined forces for a loan of 7.5 million euros in 2014 and for a loan of 10 million euros in 2017.
Garanti BBVA Leasing is part of the Garanti BBVA Romania financial group owned by Garanti BBVA Turkey, majority owned by the Spanish financial group Banco Bilbao Vizcaya Argentaria.
BSTDB supports economic development and regional cooperation in the Black Sea region through loans, guarantees and equity investments in private companies and public entities in member countries.
($ = 0.826 euro)