The proposed project is a syndicated loan to be provided to Mobiasbanca SA in the aggregate amount of USD 6 million under an A/B loan structure, consisting of A loan of USD 3 million for the EBRD’s account and a B loan of up to USD 3 million to be syndicated to Nederlandse Financiererings-Maatschappij voor Ontwikkelingslanden N.V. The loan will be used for on-lending to Moldovan SMEs.
The project will support the development of one of the largest and best performing banks in Moldova. Mobiasbanca is dedicated to the SME sector and this syndicated loan will provide much needed long-term financing to eligible SMEs for investment and working capital purposes, thereby supporting the development of the private sector in Moldova as well as assisting the bank in diversifying its funding base by introducing a co-financier.
Mobiasbanca was established as a private bank in Moldova in June 1990. It has a full banking license and provides the full range of banking services. It is Moldova’s fifth largest commercial bank and focus on micro and small clients. Mobiasbanca’s capital is majority owned by Development Capital Corporation Moldova which, in turn, is wholly owned by New Century Holding (NCH) Fund, USA.
Senior term loan of USD 3 million from EBRD and additional USD 3 million to be syndicated to Nederlandse Financiererings-Maatschappij voor Ontwikkelingslanden N.V.
USD 6 million.
Screened FI: Mobisasbanca (MB) will continue to comply with the EBRD’s Environmental Procedures for Intermediated Finance through Local Banks and the EBRD’s Environmental Guidelines for Trade Facilitation Program for each respective project component. MB will continue to adhere to the Bank’s Environmental Exclusion and Referral Lists and submit annual environmental reports to the Bank (not applicable to the TFP component). A member of the Environment Department recently carried out a monitoring visit to Mobiasbanca and was satisfied with the bank’s application of EBRD’s environmental requirements.
Mobiasbanca was one of three commercial banks in Moldova who benefited from short-term consultancy support in 2005 aimed to improve credit skills and risk management. The project was designed to support implementation of Medium-Sized Co-financing Facility and was funded by ETC Donor Fund administered by EBRD.
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