Provision of a five-year senior loan of up to EUR 10 million, comprising two equal tranches with the second tranche being uncommitted, to Eximbank under the Financial Intermediaries Framework ("FIF") for on-lending to eligible micro, small and medium enterprises (MSMEs).
The project will be implemented under FIF with proceeds to be used for on-lending to MSMEs in Moldova in accordance with the FIF Policy Statement. The transaction will help Eximbank to (i) diversify its funding structure with medium-term financing and (ii) support its MSME portfolio growth.
ETI score: 60
"Competitive": Eximbank will further expand its MSME portfolio, reaching regional clients and attracting new borrowers.
"Resilient": Eximbank will be expected to maintain adequate portfolio quality.
Eximbank is a medium-sized universal commercial bank, owned by Intesa Sanpaolo (the "Parent", ISP) since 2018. It is ranked 7th (out of 11 banks in the country) by total assets (EUR 246 million; 3% market share).
EBRD Finance Summary
Total Project Cost
Key sources of additionality under the project are (i) Financing structure (long-term tenor in support of investments by Moldovan MSMEs) and (ii) Standard-setting (the project will be gender additional, as part of the sub-loans financed out of the proceeds of EBRD loan are expected to be on-lent to women-led MSMEs.)
Environmental and Social Summary
Categorised FI (ESP 2019). Eximbank is an existing client and already has developed an Environmental Social Monitoring System ("ESMS") which covers its environmental and social risk management policies in-line with PR9. For this project Eximbank will be required to comply with EBRD's PRs 2, 4 and 9, adhering to the updated EBRD's Environmental and Social Exclusion List as well as Referral List introduced with ESP 2019 and submit Annual E&S Reports to the Bank.
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PSD last updated
25 Jul 2023
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