Summary of Proposed Investment
Project Number
21224
Company Name
FINCOMBANK SA
Date SPI Disclosed
Jul 15, 2003
Country
Moldova
Industry
Financial Markets
Projected Board Date
Aug 31, 2003
Status
Completed
Sector
Commercial Banking - General
Department
Regional Industry FIG LAC & EUR
Environmental Category
FI-1 - Significant
Previous Events
Approved : Nov 6, 2003
Signed : Nov 14, 2003
Invested : Dec 24, 2003
Project Description
It is proposed that IFC provide a credit line of up to $1.5 million to Finance and Trade Bank (Banca de Finante si Commert or Fincombank) for the purpose of on-lending to finance eligible sub-projects by way of sub-loans to eligible sub-borrowers. Fincombank, previously state-owned, was privatized in 1993 and became one of Moldova's first private commercial banks. Today, Fincombank provides a range of banking services to Moldovan businesses, primarily small and medium-sized businesses, through its 20 branch offices (six in Chisinau). Fincombank has 166 employees and over 9,600 clients.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Victor Khvorostovsky, Chairman of the Board
26 Pushkin Street;
Chisinau;
Moldova
(fax: 37 32 237 596)