Project Description
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).
Project Objectives
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.
Transition Impact
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.
Client Information
EXIMBANK JSCB
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
EUR 10,000,000.00
Total Project Cost
EUR 10,000,000.00
Additionality
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.
Company Contact Information
Radu Cazacu
Radu.Cazacu@Eximbank.com
https://eximbank.md/
PSD last updated
25 Jul 2023
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
Email: projectenquiries@ebrd.com
For state-sector projects, visit EBRD Procurement:
Tel: +44 20 7338 6794
Email: procurement@ebrd.com
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 compliance@ebrd.com. 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 ipam@ebrd.com to get guidance and more information on IPAM and how to submit a request.
