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IFC and UniCredit Leasing Corporation Support Small and Medium Enterprises in Romania


IFC in Belgrade:
Slobodan Brkic  
Tel: +381 11 3023 750
E-mail: sbrkic@ifc.org


Bucharest, October 19, 201—IFC, a member of the World Bank Group, has provided a RON150 million (approximately $38.5 million equivalent) loan to UniCredit Leasing Corporation to help finance small and medium enterprises (SMEs), so they can grow their businesses and generate new employment.

The agreement will allow UniCredit Leasing, the market leader in Romania’s leasing sector, to extend its reach to smaller companies that need to upgrade their fixed term assets. UniCredit Leasing is a subsidiary of UniCredit Bank S.A., a long-term IFC client. The loan is also part of IFC’s strategy to work with banks and financial institutions across the region to strengthen their lending capacity to underserved sectors.

“UniCredit Leasing Corporation has an ongoing strategy of supporting smaller companies in Romania,” said Mircea Cotiga, CEO of UniCredit Leasing. “With this new loan, we enforce our long-term commitment to encouraging this segment. In the months to come, we will focus on healthy sustainable growth in the local market and further diversifying our SME portfolio.”

This is IFC’s first local currency loan to a leasing company, to help the sustainable development of Romania’s growing leasing market, while eliminating cross-currency mismatches. Given their numerous financial constraints, leasing is an attractive alternative for SMEs, especially for small and young companies unable to obtain bank loans because of their lack of credit history.

“Leasing companies are essential to drive IFC’s SME programs across Europe and Central Asia,” said Kudret Akgun, IFC EMENA Regional Manager for the Financial Institutions Group. “With this agreement with UniCredit Leasing Corporation, we are aiming to reach smaller and mid-size companies in Romania and increase their access to finance, enabling their future growth.”

About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In FY17, we delivered a record $19.3 billion in long-term financing for developing countries, leveraging the power of the private sector to help end poverty and boost shared prosperity. For more information, visit www.ifc.org  

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About UniCredit Leasing Corporation
UniCredit Leasing Corporation IFN SA is part of UniCredit Romania financial group, together with UniCredit Bank and UniCredit Consumer Financing, offering a complete range of financial products and services to its customers. UniCredit Leasing Corporation IFN S.A. provides financing solutions through financial and operating leasing agreements, with an average period of 12 to 60 months, in the following fields: industrial equipment leasing, car leasing, real estate leasing, sale and lease back leasing and public leasing. Apart from the services relating to these major leasing fields, UniCredit Leasing Corporation also provides insurance brokerage, through its affiliated company, UniCredit Insurance Broker. Furthermore, the company UniCredit Leasing Fleet Management provides operating leasing solutions as well as vehicle fleet management. UniCredit Group is a strong pan-European Group with a simple commercial banking model and a fully plugged in Corporate & Investment Bank, delivering a unique Western, Central and Eastern European network to an extensive client franchise.