Bucharest, Romania, October 14, 2009—IFC,
a member of the World Bank Group, today announced it will provide a €50
million loan to Banca Transilvania that will enable the bank to expand
financing for private health care providers in Romania, helping increase
access to medical care.
The investment will support development of the country’s private health
care sector by assisting medical providers who are looking for bank financing
to set up or build their private practice.
“This loan will enable us to continue lending and expand our strong presence
in Romania’s health care sector,” said Robert C. Rekkers, CEO of Banca
Transilvania. “In the context of the current crisis in international markets,
this major transaction shows that Banca Transilvania has strong business
partners and can continue to access resources to support local development.”
Shahbaz Mavaddat, IFC Director for Southern Europe and Central Asia, said,
“IFC is supporting Romanian health care professionals by providing them
with access to finance and helping them to start, expand, or modernize
their operations. As a result, the citizens of Romania will benefit with
increased standards of health care.”
IFC’s loan to Banca Transilvania also will help the country retain qualified
health care professionals by expanding employment opportunities in the
private health care sector.
IFC, a member of the World Bank Group, creates opportunity for people to
escape poverty and improve their lives. We foster sustainable economic
growth in developing countries by supporting private sector development,
mobilizing private capital, and providing advisory and risk mitigation
services to businesses and governments. Our new investments totaled $14.5
billion in fiscal 2009, helping channel capital into developing countries
during the financial crisis. For more information, visit www.ifc.org.
About Banca Transilvania S.A.
Banca Transilvania® is among the top banks in Romania, in terms of assets.
It has majority Romanian capital and the European Bank for Reconstruction
and Development, which holds 15 percent of share capital, is a significant
shareholder. The bank is a nationally represented financial institution,
with over 500 units. It was the first banking institution in Romania to
be listed on the Bucharest Stock Exchange in 1997. Its four main business
lines are retail, SME, corporate, and health care. For more information,