FIF - EaP SMEC - Eximbank



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

11 Jan 2022



PSD disclosed:

11 Jan 2022

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

A EUR 5 million senior loan, comprising two equal tranches with Tranche A committed and Tranche B uncomitted, to Eximbank under the SME Competitiveness Programme in the Eastern Partnership for on-lending to eligible  micro, small and medium enterprises (MSMEs). In addition to long-term financing, eligible sub-borrowers will receive technical assistance funded by the European Union (EU) and investment incentives.

Project Objectives

The SME Competitiveness Programme in the Eastern Partnership is a follow-on facility of the existing FI DCFTA Blended Finance Programme (DCFTA), designed for Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine, to support upgrades in MSMEs to EU standards. The proposed project will enable Eximbank to extend investment loans to local MSMEs, financing upgrades of technology and equipment necessary to meet EU standards in terms of product quality, health and safety measures and environmental preservation and thus will help businesses to become greener and more competitive. At least 70 percent of all financed sub-loans are expected to be compliant with EBRD Green Economy Transition (GET) approach.

Transition Impact

ETI score: 75

Competitive: Eximbank will expand its MSME portfolio with a focus on financing investments leading to compliance with EU directives, facilitating Moldovan MSMEs increased competitiveness.

Resilient: Eximbank will be expected to maintain adequate loan portfolio quality.

Client Information


Eximbank is a medium-sized universal commercial bank in Moldova, owned by Intesa San Paolo since 2018. It is ranked 6th (out of 11) by total assets (EUR 212 mln) and deposits translating into respective 3.5% and 3.8% market shares. 

EBRD Finance Summary

EUR 5,000,000.00

Total Project Cost

EUR 5,000,000.00


Key sources of additionality under the project are (i) Financing structure (long-term tenor in support of investments by Moldovan MSMEs ) and (ii) Knowledge, innovation and capacity building (technical assistance under the programme to the banks and MSMEs will support timely realisation of EU-compliant investments in Moldova).

Environmental and Social Summary

Categorised FI (2019 ESP). Eximbank is a new partner bank. It has provided E&S Due Diligence questionnaire to the Bank reviewed by ESD. The bank will be required to implement the Environmental and Social Risk Management Procedure and comply with EBRD's Performance Requirements (PRs) 2, 4 and 9, including adherence to the expanded EBRD E&S Exclusion List and Referral List introduced with ESP 2019, and submit Annual E&S Reports to the Bank. The sub-projects will be required to comply with national environmental, health, safety and labour (EHSL) requirements. The use of proceeds may include solar sub-projects. Such sub-projects will be managed in line with 'The Proposed Management Approach for Solar Supply Chain Risk Management' (CS/FO/21-35) and any subsequent guidance developed under that approach. The project is consistent with the GET approach and the GET share is 70%.

Technical Cooperation and Grant Financing

MSME sub-borrowers will benefit from financial incentives (up to 15 per cent of the lower of sub-loan disbursed amount or investment cost) for eligible sub-projects, while Eximbank will receive technical assistance from dedicated consultants towards investment projects preparation and implementation.

Company Contact Information

Ecaterina Lazari

PSD last updated

11 Jan 2022

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and Compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP 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 following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email to get guidance and more information on IPAM and how to submit a request.


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