EFSE and BT Leasing Transilvania join forces to foster financing to MSEs in Romania
The European Fund for Southeast Europe (EFSE) has provided a senior loan of EUR 20 million to BT Leasing Transilvania (BT Leasing) to support local micro and small enterprises and individual entrepreneurs (MSEs).
A member of Banca Transilvania Financial Group, BT Leasing offers dedicated financial solutions aimed at strengthening the business activities of local entrepreneurs – making it a solid match for the EFSE’s mandate to promote economic prosperity by bolstering the ability of local financial players to provide affordable financing to MSEs. The loan aims to contribute to the success of the businesses themselves, as well as to encourage investment and support overall economic development in Romania.
EFSE Board Chairman Christoph Tiskens said: “Our partnership with BT Leasing is going strong. Economic growth prospects in Romania are very promising but we need partner lending institutions like BT Leasing to step in and make financial inclusion happen. BT Leasing has the expertise, capacity and infrastructure to reach out to businesses across the country in a sustainable manner.”
Ionuț Morar, CEO of BT Leasing said: “This is the second loan agreement with the European Fund for Southeast Europe (EFSE), the first one having been implemented from 2007 to 2012. We are glad to receive this funding that allows us to support Romanian entrepreneurs, especially micro and small enterprises, because financial leasing is the easiest form of investment financing for such companies."
About the European Fund for Southeast Europe
The European Fund for Southeast Europe (EFSE) was initiated by KfW Development Bank (KfW) with the financial support of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission. It aims to foster economic development and prosperity in Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, former Yugoslav Republic of Macedonia, Kosovo, Georgia, Moldova, Montenegro, Romania, Serbia, Ukraine and Turkey. As access to finance is a key success factor in developing the micro, small and medium enterprise segments, EFSE focuses on assisting local financial sectors in strengthening their ability to ensure adequate and sustainable financing. The funding EFSE provides as long-term finance primarily for micro and small enterprises (MSEs) – but also for private households in the form of home improvement loans – is channeled to these loan customers through local partner lending institutions. Supporting EFSE’s investment activities is the EFSE Development Facility, which provides partner lending institutions with technical assistance, consulting and training services to build operational capacities and professional management.
Initiated by KfW Development Bank (KfW) on 15 December 2005 from four multi-donor programs under its management, EFSE is the first public-private partnership of its kind and the first privately managed fund in development finance to leverage private funding for MSE finance in the target region. Capital is provided by donor agencies, international financial institutions and private institutional investors, including the German Federal Ministry for Economic Cooperation and Development (BMZ), the European Commission (EC), the Government of Albania, Small and Medium Business Credit Support CJSC (SMBCS), a subsidiary of the Central Bank of Armenia, the Development Bank of Austria (Oesterreichische Entwicklungsbank, OeEB), the Swiss Agency for Development and Cooperation (SDC), the Danish International Development Agency (Danida), KfW as Lead Investor, the International Finance Corporation (IFC), the Netherlands Finance Company (FMO), the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), and Deutsche Bank.
Hauck & Aufhäuser Fund Services S.A., Luxembourg, acts as EFSE’s Fund Manager and Finance in Motion GmbH, Germany, as Advisor.
For more information about the European Fund for Southeast Europe, please visit www.efse.lu
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About BT Leasing
BT Leasing, a subsidiary of Banca Transilvania Financial Group, is one of Romania’s top leasing companies and is held entirely by Banca Transilvania, the second largest bank in Romania in terms of assets. BT Leasing’s mission is to offer an alternative to loans through services that support the client’s activity. In over 20 years of activity, BT Leasing has supported over 10,000 clients and has signed more than 20,000 contracts.
Media contact EFSE
Senior Officer, Marketing & Communications
Tel: +49 (0)69 271 035-470
Media contact BT Leasing
Communication & PR Deputy Director
Tel: + 40 724 567 364
Finance in Motion GmbH Sylvia Wisniwski Carl-von-Noorden-Platz 5 60596 Frankfurt am Main Germany