Project description
and objectives:
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The EBRD is considering a senior loan for up to EUR 20 million in two tranches to MB to be on-lent by MB to SMEs and larger companies in Moldova. The proceeds of the credit line will be used by MB to provide medium and long-term financing to private companies for production, investment, trade, services and working capital needs.
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Transition impact:
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Transition impact potential derives from the demonstration effect associated with supporting the growth of SME and larger corporates lending which is still underdeveloped in Moldova. Development of a market for medium and long-term lending will further build up on the successful implementation of the other credit lines granted by the EBRD to MB in the past. Supporting the growth of MB will strengthen the banking sector and thus increasing competition.
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The client:
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CB “MOBIASBANCĂ - Groupe Société Générale” S.A. (MB), part of the SocGen Group, a private commercial bank organised and functioning under the law of the Republic of Moldova. As of end-July 2008, MB’s total assets amounted to EUR 207.1 million and total equity amounted to EUR 39.6 million. The audited 2007 net profit was at EUR 5.6 million. As of end-July 2008, its client base was comprised of more than 85,100 clients.
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EBRD finance:
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A senior loan for up to EUR 20 million extended by the Bank to MB.
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Total project cost:
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Up to EUR 20 million equivalent.
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Environmental impact:
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CB “MOBIASBANCĂ - Groupe Société Générale” S.A. will be required to apply the EBRD’s Environmental Procedures for Intermediated Financing through Local Banks to sub-projects financed under the Senior Loan. This includes adherence to the FI Environmental Exclusion and Referral List, compliance with the applicable national environmental, health and safety, labour and public consultation legislation, appointment of a member of senior management with overall responsibility for the implementation of environmental procedures, and submission of annual environmental reports to EBRD.
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Technical
cooperation:
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MB benefited in the past years from technical assistance granted to implement micro-lending programs provided by the Early Transition Countries Fund. No TC is envisaged for the proposed transaction.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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CB “MOBIASBANCA - Groupe Société Générale” S.A.
811, Stefan cel Mare si Sfant Avenue
MD-2012
Chisinau,
Republic of Moldova
Ms. Victoria Tofan - Head of Treasury Department
Phone: +373 22 25 65 81
Fax: +373 22 54 19 35
E-mail: victoria.tofan@mobiasbanca.md
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EBRD contact:
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Alexandru Tanase, Operation Leader: tanasea@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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