Banca Sociala - Credit Line for SMEs (II)

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 38130

Status Complete

Location

Moldova

Business Sector

Financial Institutions

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 38130

Status Complete

Location

Moldova

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

24 Jul 2007

Disclosure date

20 Jun 2007

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

The proposed project is a credit line for up to EUR 5 million in two tranches to BS to be on-lent by BS to SMEs in Moldova. The proceeds of the credit line will be used by BS to provide medium-term financing to SMEs for production, investment, trade, services and working capital needs.

Transition Impact

Transition impact potential derives from the demonstration effect associated with supporting the growth of SME lending which is still underdeveloped in Moldova. Development of a market for medium term lending will further build up on the successful implementation of the other credit lines granted by the EBRD to Banca Sociala in 2005 and 2006, respectively. Supporting the growth of BS will strengthen the banking sector and thus increasing competition.

The Client

BS is the sixth largest Moldovan bank with around 7% market share of total banking assets at end-2006, total assets of over EUR 100 million, total equity of EUR 14.2 million and net profit of EUR 0.5 million (as of 31 March 2007, MAS, unaudited). Shareholders include 493 individuals and companies, most of them being Moldovans.

EBRD Finance

A loan for up to EUR 5 million extended by the Bank to BS.

Project Cost

EUR 5 million equivalent.

Environmental Impact

BS will be required to adopt the EBRD’s Environmental Procedures for Intermediated Financing through Local Banks to sub-projects financed under the Credit Line. 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.

Technical Cooperation

None.

Company Contact

Mr. Vladimir I. Suetnov, President
Banca Sociala SA
61, Banulescu-Bodoni Street
MD 2005, Chisinau,
Republic of Moldova

Phone: +373 22 22 14 81
Fax: +373 22 22 11 23

E-mail: office@socbank.md

Transition impact

ETI Score:75

PSD last updated

01 Feb 2019

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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