BAKU, Azerbaijan, December 10. The Black Sea Trade and Development Bank (BSTDB) has announced a new €20 million financing agreement with Garanti BBVA Leasing to empower small and medium-sized enterprises (SMEs) in Romania, Trend reports via the BSTDB.
The loan aims to support Romanian SMEs in acquiring capital assets, expanding operations, and enhancing their competitiveness in the market.
This marks the fourth financing collaboration between BSTDB and Garanti BBVA Leasing in the past decade. To date, BSTDB has provided a total of €42.5 million in funding to Garanti BBVA Leasing, benefiting over 500 Romanian businesses. These partnerships have facilitated essential investments, strengthened operational capacities, and elevated the market competitiveness of SMEs across the country.
SMEs represent a cornerstone of Romania’s economy, acting as key drivers of income generation and employment. The latest facility is expected to deliver substantial development impact by boosting export capacity, generating tax revenues, and fostering economic growth. The initiative also highlights the importance of cross-border collaboration, strengthening economic ties between BSTDB member states, particularly Romania and Türkiye.
“Leasing is a powerful and flexible alternative to traditional financing methods, offering businesses an accessible way to acquire critical equipment and assets without significant upfront investments,” said Dr. Serhat Köksal, President of BSTDB. “By continuing our partnership with Garanti BBVA Leasing, we reaffirm our commitment to supporting Romania’s SME sector, which is vital for the country’s economic resilience and prosperity.”
Okan Yurtsever, General Manager of Garanti BBVA Leasing, emphasized the importance of the collaboration, stating, “Our longstanding partnership with BSTDB has been instrumental in providing tailored financing solutions to Romanian businesses. This new loan enhances our ability to support SMEs in navigating a rapidly changing economic environment by offering the tools they need to grow, compete, and seize future opportunities.”
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