The EBRD is considering a senior loan of up to € 20 million in two tranches to MAIB to be on-lent by MAIB to SMEs in Moldova. The proceeds of the credit line will be used by MAIB to provide medium and long-term financing to private companies for production, investment, trade, services and working capital needs.
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 short, medium and long-term lending will further build up on the successful implementation of the other credit lines granted by the EBRD to commercial banks in Moldova in the past. Given the limited supply of term funding for Moldovan banks, this targeted credit line will have an important impact on supporting the real economy in Moldova.
CB “Moldova-Agroindbank” S.A. (MAIB), a private commercial bank organised and functioning under the law of the Republic of Moldova. As of end-2008, MAIB’s total assets amounted to € 510.7 million and total equity amounted to € 94.1 million. The audited 2008 net profit was at € 22.0 million. As of end-March 2009, its client base was comprised of more than 507,000 clients, both companies and individuals.
A senior loan of up to € 20 million extended by the Bank to MAIB.
Up to € 20 million.
MAIB will conduct its business in accordance with EBRD’s Environmental Performance Requirement (“PR”) 2 and apply PR 9 when making local loans which will be required to comply with applicable national environmental, health and safety and labour requirements. MAIB should adhere to the EBRD's Environmental and Social Exclusion and Referral Lists, and submit annual environmental and social reports to the Bank.
MAIB will benefit from technical assistance granted under Moldova - Financial Sector Framework funded by ETC Donor Fund. The Consultant was selected for the whole framework in 2008.
CB “Moldova-Agroindbank” S.A.
9, Cosmonautilor Street
Republic of Moldova
Mrs. Larisa Rudeva - Vice-President - Finance Director
Phone: +373 22 24 15 88
Fax: +373 22 22 66 26
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