devinitorg/iati-policy-markers huggingface dataset:
Ro-Fin Mortgage Loan Company RAEF is in the process of establishing Ro-Fin Mortgage Loan Company (Ro-Fin, or the company), a green-field entity, as a specialized housing finance company to originate and service primary mortgages to Romanian households. Ro-Fin will be capitalized with equity and long-term debt at $36 million (ROL 1,200 billion equivalent) making it the first significant private mortgage company in Romania. The strong capitalization would enable the company to mobilize ample funds internally and externally at attractive rates and offer affordable residential mortgages in Romania. The proceeds from IFCs long-term loan will be on-lent as long-term residential mortgages and home refurbishing sub-loans that are very scarce products in the Romanian market. The company will be chaired by an experienced, senior mortgage banker.

Development Impact:
Mortgages are virtually nonexistent in Romania.  An important developmental impact of this project is to provide critically needed long-term funding to families that wish to own their home. The tenor of IFC's loan would enable Ro-Fin to provide long-term, and thus, more affordable mortgage credits. With the increased affordability, more individuals could access funding to purchase new or renovate existing homes, thus addressing the poor condition housing in Romania. Further, through extensive linkage effects, the housing industry will contribute to the development of SMEs that supply labor and materials for the construction and improvement of homes; a major contributor to economic growth in Romania. It is further envisaged that the project would have a powerful demonstration effect in stimulating other market players to augment their underwriting standards, laying the foundation for a sound and thriving secondary market for issuing mortgage-backed securities.

IFC Role:
IFC will play a major role in ensuring that the underlying mortgages are structured using best practice underwriting and mortgage servicing standards.  Documentation and mortgage requirements for sub-loans will be based on standardized underwriting criteria to facilitate securitization. The objective of this project will be to spur the growth of the primary residential mortgage market, with a view to developing the secondary market through securitization and the creation of an active refinancing entity. IFC will be tapping know-how from its Housing Finance Unit in the Global Financial Markets Group to provide value added, "informal technical assistance" to this project. The client is welcoming IFC's housing finance expertise in the framework of project structuring.
Banca Tiriac The proposed transaction is  to invest up to $20 million (or Euro equivalent) in form of a senior loan to support the growth of Banca Comerciala Ion Tiriac S.A. (Banca Tiriac, BT or the Bank), the first private bank in Romania founded in 1991, a medium-sized, well-capitalized bank, headquartered in Bucharest, Romania.  IFCs loan is intended to help BT to meet demand for medium term financing from its SME and corporate clients in Romania. With EU accession for Romania projected to happen in 2007, Romanian corporates and SMEs will need to upgrade their environmental and quality requirements to meet standards and remain competitive in a larger EU market.  IFC proposed loan is intended to partially meet this demand by providing medium term resources to the Bank to match fund their corporate loans. In addition to the senior loan, IFC will consider a subordinated loan of up to $7.5 million (or Euro equivalent), that will qualify as Tier II capital as per National Bank of Romania guidelines. The subordinated loan is intended to increase the Banks Capital Adequacy Ratio in line with its projected growth in risk assets and the expansion of branch network. Additional benefits will include in reducing the Banks maturity mismatch on its balance sheet and increase the amount available for lending under the single obligor limit.
Banca pentru Mica Industrie si Libera Initiativa:  Mindbank, S.A. Mindbank was incorporated in Romania in 1990 as the "Bank for Small Industry and Free Enterprise".  Mindbank is licensed by the National Bank of Romania to conduct all commercial banking activities and is principally engaged in carrying out banking services for small enterprises.  The purpose of the credit line would be to extend the tenor of small business loans and, with the support of external technical assistance, develop a project finance capability geared to small enterprises, local cooperatives and microentrepreneurs.  IFC's convertible credit line will facilitate the entry of a strategic technical partner, which is expected to lead to an improvement in Mindbank's lending technology and enhance its long term perspective as a sustainable niche player in the Romanian banking sector.
TeamNet Romania TeamNet specializes in the development, implementation and integration of software applications based-on existing commercial solutions and proprietary IT systems. TeamNet International S.A. is a privately owned company registered in Romania.    The Company is seeking EUR 25-30 million in a combination of equity and debt to finance its growth in the Eastern European (EE) region. The funds will be used to: (i) upgrade its existing technical platform and products; (ii) increase capacity of its existing operating subsidiaries in the EE region; (iii) fund potential acquisitions in the EE region with a view to acquiring personnel with strong technical skills; and (iv) provide working capital and restructure of TeamNets short-term debt in order to better match its funding needs with its pipeline of contracts.  In 2012 the company introduced a new business line, Ymens Cloud Services, which targets private sector SMEs to provide business applications such as accounting, corporate mail, payroll, using a transaction-based pricing model.  The Project will support the further roll out of the Ymens Cloud service in Romania and in other countries where the Company has a presence. IFC''s investment is consistent with the World Bank 2012-15 ICT strategy and will help to: (i)  expand the local IT markets'' (ii)  provide quality employment; and (iii) promote affordable IT solutions to help large public and private organizations as well as  SMEs run more efficiently.
DCM BCR MREL 3 Part of the bonds will be issued under Erste Group Bank A.G.s (Erste Group or Erste) Sustainable Finance Framework which is aligned with ICMAs Green Bond Principles, Social Bond Principles, and Sustainability Bond Guidelines, as confirmed by an independent second party opinion provider. The IFC investment will be used to support the growth of the Banks climate and housing to women portfolio. The project will support a leading bank in Romania to access the international capital markets while contributing to the countrys developmental goals of transitioning to green economy and increased access to finance for women. By supporting a systemic bank in raising MREL eligible funding, the project will also contribute to the banking systems stability in the country.
Iulius Iasi The Project entails the design, construction, operation and maintenance of an energy-efficient mixed-use IT park located in an underdeveloped area of the city center of Iasi, a frontier and convergence European regional city in the North-Eastern part of Romania (Project). The Project will be divided into two phases: Phase I: development of the Campus property, a 6-storey office building with a Gross Leasable Area (GLA) of c.60,000 square meters; and Phase II: development of the Tower property, a high-rise office building with a planned GLA of c.46,000 square meters. On the ground floor, both properties will house restaurants and convenience retail operations. The most significant, expected Project-level outcome is derived from stakeholder effects through improved access to high quality Grade A office buildings. Beyond the Project, IFC anticipates that the Project will promote greater market integration through the development of a new business center, which will provide more economic opportunities to the local population.
Bancpost SME In the context of the Joint IFI Action Plan for Central and Eastern Europe (CEE) and the European Bank Coordination Initiative (the Vienna initiative), IFC is proposing to provide a senior loan to Bancpost S.A., which is a subsidiary of Greece-based EFG Eurobank Ergasias S.A. (EFG).  The IFC loan will be used to support Bancposts lending operations to small and medium sized enterprises (SMEs) in Romania. The Development Impact is expected to be strong in terms of (i) providing support to Bancpost in the form of term lending and (ii) supporting MSMEs in Romania which Bancpost is financing
UCLC Project The proposed project consists of a senior loan facility of up to RON150 million to UniCredit Leasing Corporation IFN SA (UCLC), which would be a new client for IFC in Romania. The purpose of the loan is on-lending to SMEs. Established in 2002, UCLC is the largest leasing company in Romania with a market share of 18.3% as at December 2014. The main objectives of the project are to: (i) help utilize a proven financial product that would respond to the critical term funding gap for SMEs; (ii) attend to the difficulty of SMEs to access bank financing and (iii) introduce competition in the financial sector and promote growth and generate employment.   Specifically the facility is to:  (i) Address the critical shortage of term funding for SMEs; (ii) Help deepen the financial markets, boosting the RON-denominated leasing market and mitigating foreign exchange risks; and (iii) Generate employment through resultant growth of SMEs.
Arabsq Corp Fin Arabesque, a wholesaler and distributor of construction materials in Romania, Ukraine and Moldova, proposes to expand its existing facilities as well as set up new facilities in Bulgaria and Serbia.  IFC will support its capital expenditure program over the next three years through a general purpose corporate loan as well as through a guarantee of the underlying payment obligations related to the purchase of shares in Budmax, a Ukrainian subsidiary of Arabesque. The expansion of Arabesques existing operations as well as its entry into new markets will have substantial development impact. Arabesques operations will continue to strengthen local supply chains in these countries. Modernization of the wholesale sector will be achieved particularly in countries such as Ukraine, Moldova, Bulgaria and Serbia through the introduction of modern business practices brought in by an experienced Romanian company. Operations in these countries would benefit from the more efficient western style warehouses and distribution practices as well as the larger store format, while consumers will benefit through better choice and lower prices due to the economies of scale. The project will also generate significant employment (e.g. 100-200 new jobs in Ukraine alone).
DCM Banca Comerciala Romania- MREL 2021 The project entails an IFC investment of USD28.6 million (in Romanian Leu equivalent) in MREL (Minimum Requirement for own funds and Eligible Liabilities) eligible bonds issued by Banca Comerciala Romana S.A. (BCR or the Bank), an existing IFC client in Romania. The bonds are unsecured Senior Non-Preferred instruments and will be listed on the Bucharest Stock Exchange. Under the same project, IFC previously invested (i) US$24.6 million (in Romanian Leu equivalent) in Senior Non-Preferred instruments in May 2021 and (ii) US$22.2 million (in Romanian Leu equivalent) in Senior Preferred instruments in October 2021. Both instruments are listed on the Bucharest Stock Exchange and were used to support the Banks housing portfolio including green mortgages. The Project will increase access to housing finance and climate finance (in the form of green housing loans), two of the most underserved segments in the Romanian economy.  The project is also expected to promote a more dynamic domestic corporate bond market by increasing the diversity of instruments, tenors and issuers.
UniCredit Rom The proposed project consists of an IFC senior debt investment of up to US$75 million mainly in a bond to be issued by UniCredit Tiriac Bank S.A. (UCTB, or the Bank), which would be a new client for IFC in Romania.  IFC may also provide a loan to finance local SMEs at a later stage.UCT is the fifth largest bank in Romania with total assets of EUR5.7 billion, equity of EUR609 million, and net income of EUR40 million as of the end of December 2012.  UCT offers a wide range of banking services with a nationwide presence and has a history of over 20 years on the local market. The bank resulted after subsequent mergers in 2006-2007 of 3 mid size banks in Romania: Banca Tiriac, HVB and UniCredit Romania.  With 6.9% market share, a national network of around 200 branches, for approximately 600,000 clients, UCT remained profitable throughout the financial crisis. 1.	Demonstrate the ability of a Romanian bank to attract long-term funding from local and international investors in difficult financial times. IFC''s investment in UCT in an environment of economic and political volatility is expected to boost investor confidence in the Romanian banking sector. This investment is expected to be a catalyst for other bond issues to follow. 2.	Allow the Bank to become less dependent on funding from its parent, and enhance local funding mechanism that allows the Bank to grow its lending operations, in particular to SME. IFC''s investment will be instrumental to the Bank''s lending operations and the financial sector as a whole, in providing for an important source of local currency funding, i.e. a domestic bond market.
MedLife II Project MedLife has established itself as the leader in the Romanian private health care market and as a unique provider of integrated medical services for corporate clients and individuals. The Company operates the largest private hospital in Romania (Life Memorial Hospital), 4 hyperclinics (large clinics providing an extensive range of high quality clinical services), 5 laboratories, 3 occupational health clinics and 3 specialized clinics (psychiatric, maternal and therapeutic). MedLife also has one of the largest subscriber base in the Romanian corporate market.

MedLife is an existing IFC client and plans to invest up to approximately EUR 20 million in 2010  2013 to expand operations in Romania: i) build a 2nd, 120-bed, hospital in Bucharest; ii) add 7 hyperclinics (2 in Bucharest and 5 in smaller cities across Romania) and 2 laboratories (outside Bucharest); and iii) target acquisitions of smaller outpatient clinics, laboratories and hospitals outside Bucharest. - Increase access to quality healthcare services in Romania, especially in cities outside Bucharest;
- Relieve burden on over-crowded public system and support a viable private sector alternative which is increasingly seen as necessary to address healthcare needs in the country;
- Continue to establish benchmarks for quality healthcare, emphasizing preventive over specialized care;
- Provide employment opportunities for qualified professionals (medical and non-medical).
Unicredit Leasing S.A. Unicredit Leasing Romania S.A (UCL ). formerly named Demir Romlease S.A. (Romlease or the Company), is a fast-growing joint stock leasing company established in 1994 and based in Bucharest, Romania.  IFC was one of the founding shareholders of the company, the first leasing company in Romania, and has been a mainstay of the company through some lean years, as described in more detail below.  

The investment would support the further growth of UCL's leasing book on a sound financial basis.  Now that the company is on a stable footing, with strong shareholders, and tight credit screening and monitoring policies in place, it is proposed that through this credit line, IFC remains an active supporter of the company.  

The leasing market has been growing relatively fast in Romania.  The total market is currently estimated at about $1 billion.  The company targets middle size and large companies.  With EU accession projected to occur in the next three or four years, the demand for medium term financing (of which leasing is an attractive alternative, especially for smaller companies) is expected to grow, as Romanian companies improve their environmental and quality standards, in order to be more competitive, in a larger EU market. 

IFCs focus has been to build and strengthen financial intermediaries in Eastern Europe.  The leasing sector in Romania is developing and IFC believes that there is a significant opportunity to accelerate its growth.  By granting this loan, IFC will help expand a reputable leasing company in Romania and strengthen the leasing industry.
WDP Romania II Warehouses de Pauw NV (WDP or the Company), a listed Belgian Real Estate Investment Trust (REIT), has requested IFC to provide a long-term loan to support the building of semi-industrial and logistics property throughout various cities in Romania (the Project) over the next few years. The most significant expected project-level outcomes are (i) stakeholder effects through increased access to modern and high-quality logistics and business infrastructure, and (ii) environmental effects, through the development of green certified buildings. Beyond the Project, IFC anticipates that the investment will promote greater integration in Romanias industrial property sector via demonstration and replication channels.
Arcelik-Arctic Arctic S.A. (Arctic the "company") is Romanias only producer of refrigerators, with revenues of approximately $53 million in 2002. The $50 million project consists of :
acquisition of Arctic by Arcelik, a Turkey-based home appliance leader, with a turnover of approximately $1.5 billion in 2002;
Arctics conversion into an efficient production base for Arceliks refrigerator sales in Europe.  
Arcelik will improve Arctics performance through:
implementing a modernization, quality improvement and capacity expansion program and 
restructuring Arctics existing financial liabilities.
DCM BCR MREL 2 The project entails an IFC investment of US$52 million (in Romanian Leu equivalent) in MREL (Minimum Requirement for own funds and Eligible Liabilities) eligible bonds to be issued by Banca Comerciala Romana (BCR or the Bank), an existing IFC client in Romania. The bonds are unsecured Senior Non-Preferred instruments and will be listed on the Bucharest Stock Exchange. The investment will be used to support the growth of the Banks housing portfolio including green mortgages. The Project will increase access to housing finance and climate finance (in the form of green housing loans), two of the most underserved segments in the Romanian economy. The project is also expected to promote a more dynamic domestic corporate bond market by increasing the diversity of instruments, tenors and issuers.
Agricover Credit Agricover Credit (the Project) would involve a senior loan of up to 12.5 million to Agricover Credit IFN S.A. (the Company) for on-lending to qualified small and medium sized farmers in Romania. The proceeds of the sub-loans would be used to finance working capital expenses, equipment and machinery purchases by farmers.  The Company is the financing arm within the Agricover Group and is the only financial institution in Romania aimed exclusively at agriculture financing. This project generates multiple developmental impacts: (i)	Increases Access to Finance for Farmers: Romanian farmers would be able to access to long-term debt to finance their investments in agriculture sector, resulting in higher productivity and economic growth. (ii)	Job Creation and Increased Tax Income for the Government: With IFC financing, the Company will be able to grow its business, creating new jobs and resulting in higher revenues and taxable income. (iii)	Support to a Domestic Agriculture Group: The Project will strengthen the Company''s and the Sponsor''s market position and improve its competitiveness in agriculture sector.
GMFI - Microenterprise Credit Romania MFR''s strategy is to become a market leader in micro and small business finance in Romania by building on its competitive advantages in the credit market.  MCR currently has a small loan portfolio of US$2.0 million.  MFR will diversify its product range and geographical reach in 2001 and 2002, especially in Transylvania and the Romanian border regions.           Following approval of its Global Microfinance Facility in 2000, IFC has moved rapidly to invest in new microfinance institutions in Europe, Latin America and East Asia, and to strengthen relationships with its strategic partners in the for-profit microfinance field -- EBRD, DOEN Foundation, KfW, FMO and IMI.  MFR was one of the sub-projects approved within the Global Facility.  IFC has played an important role in creation and support of strategic alliances with partners to develop the for-profit microfinance industry in the Balkan Region (MEB Bosnia, MEB Yugoslavia, Pro Credit Bulgaria, FEFAD Albania) and has catalyzed private sector involvement for the proposed investment in MFR.   Microfinance schemes have shown a major positive impact in alleviating poverty and unemployment in emerging markets worldwide, and -- in recognition of this strong developmental impact -- almost all multilateral and bilateral institutions and donor agencies are actively promoting microfinance schemes.  Similarly, the proposed investment in MFR is expected to be strongly developmental -- in terms of its economic impacts, stimulus for business reconstruction, employment generation, confidence-building in the banking sector, and introduction of commercially-oriented microfinance techniques to Romania.  MFR is expected to have a significant demonstration effect through introduction of best practice commercial banking techniques and professional credit analysis in Romania.
Patria Credit The proposed Project is to provide of a local currency senior loan in Lei of up to US$11 million equivalent to Patria Credit (the Company), the largest microfinance institution in Romania. Proceeds of the loan will be used to finance the expansion of the lending to micro and small entrepreneurs. The Company currently seeks long-term funding to complete its funding plan for 2012 and 2013, continue its loan portfolio growth by extending loans to its target clientele and to diversify its funding sources. - The development impact of IFC''s financing is expected to be high, as it will enhance the MFI''s ability to support productive MSEs which will in turn stimulate growth, employment generation and poverty reduction. - Create a demonstration effect for MFIs in the country by bringing best practices in insurance and social and environment management systems to Romania''s largest MFI. - Improve asset quality of the portfolio through IFC''s global knowledge of microfinance and rural products.
FintechOS Project IFC is considering an equity investment in FintechOS, a software company that specializes in digital transformation tools for financial institutions. FintechOS is a software company that provides the tools to expedite the digital transformation of banks and insurance companies. By supporting the Company's operations, IFC expects to ultimately improve the quality and accessibility of financial services in emerging markets, starting with Eastern Europe.
GBRO Green Loan The proposed investment is an up to EUR40 million senior unsecured loan to Garanti Bank S.A. in Romania (hereinafter GBRO or the Bank) for a tenor of up 7 years, to be disbursed in Euro and/or Romanian Lei (RON). The loan proceeds will be entirely used to finance green housing loans for eligible borrowers in Romania, as defined per IFCs eligibility criteria (the Project). The most significant, expected project-level outcome is increased access to green housing finance in Romania. Beyond the Project outcomes, IFC anticipates that this investment will promote market sustainability by the diversification of product offering, and the adoption of best practices in green mortgage finance through demonstration and replication channels.