IFC lends support to UniCredit Leasing

Friday 13 November 2020 13:09 CET | News

IFC, a member of the World Bank Group, has announced its support to UniCredit Leasing Corporation, Romania's leasing company, to increase access to finance for SMEs and to provide more climate finance to its clients across the country. 

The EUR 27.5 million investment will generate jobs, boost energy-efficiency measures, and help reduce carbon emissions. 

Access to finance for businesses in Romania, particularly for micro, small and medium sized enterprises, is limited and the country has a reduced level of financial intermediation. IFC's investment will help bridge this financing gap, with UCLC directing 60% of it to SMEs and at least 40% to climate-related projects.

This financing will also support UCLC in the implementation of a new green financing business line and strategy. UCLC will continue to maintain appropriate environmental and social management systems for related leasing portfolio, including providing tools and trainings that leverage IFC global experience in climate financing.

An IFC client since 2017, UCLC is a fully consolidated subsidiary of the UniCredit Group of Italy. The proposed project builds on IFC's existing relationship with both the company and the group, especially in SME finance, and will represent IFC's first engagement with the company in the climate-finance space.

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Keywords: IFC, UniCredit Leasing Corporation, leasing company, finance, SMEs
Categories: Banking & Fintech
Countries: Romania
This article is part of category

Banking & Fintech