Proposed senior loan to Moldova-Agroindbank (MAIB), the largest private bank of Moldova, to further support enhancement of medium-term lending to domestic private SMEs for investment purposes and working capital. This project builds on the Moldova-Agroindbank Credit Line I, which was Board Approved in 1995. To improve the availability of financing from MAIB to the Moldovan SMEs, especially given increased demand for medium-term financing from local customers. The proceeds of the loan will be mainly used to provide medium-term financing to private SMEs.
Supporting the growth of MAIB and the diversification of its funding base will strengthen the banking sector by providing much-needed medium-term financing for private domestic SMEs and increasing competition.
Moldova-Agroindbank (MAIB) is the largest commercial bank and a joint-stock company registered in Moldova. MAIB is owned by the Western NIS Enterprise (9.88 per cent), the EBRD (9.78 per cent), and private companies and individuals (80.34 per cent), including management.
Senior loan for a total amount of US$ 6 million (€6.7 million) in three equal tranches for financing of Moldovan private SMEs.
US$ 6 million (€6.7 million).
Screened FI. The environmental risk associated with the operation is low as MAIB has adopted and implemented EBRD’s environmental requirements across all its operations funded by the Bank, including the SME credit line I. There is no information as to the nature of the potential portfolio to define the associated environmental risk. MAIB will apply the EBRD’s Environmental Procedures for Intermediated Financing though Local Banks to its operations under the SME credit line II.
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Text of the PIP