24102 - Mobiasbank

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Summary of Proposed Investment

Project Number

24102

Company Name

OTP BANK S.A.

Date SPI Disclosed

Jan 6, 2006

Country

Moldova

Industry

Financial Markets

Projected Board Date

Feb 13, 2006

Status

Completed

Sector

Commercial Banking - General

Department

Global Industry, Financial Markets

Environmental Category

FI-1 - Significant

Previous Events

Approved : Mar 10, 2006
Signed : Mar 22, 2006
Invested : May 8, 2006

Project Description

Mobiasbanca (or the Bank) was founded in 1990 as a private financial institution. Today, Mobiasbanca is the sixth largest commercial bank in Moldova with over 7% of banking sector assets and almost 8% of loan portfolio. Having main business and strong background in corporate lending, Mobiasbanca has also recently focused on SME and consumer lending.

The project is a six-year $5 million senior loan from IFC to enable Mobiasbanca to provide medium-term loans to private Moldovan small and medium enterprises (SMEs) and to the retail sector. The project will enable IFC to support a profitable bank in Moldova to diversify its funding sources and to meet the increasing financing needs of SMEs, a key source of growth and employment in Moldova.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	5.0
Equity

Development Impact

This project will strengthen Mobiasbanca’s funding base and enable it to expand its SME portfolio. By increasing SMEs’ access to much needed term funding, the project is expected to contribute to SME growth and job creation.

IFC’s role in the project is to:

- provide medium- to long-term funding that would otherwise not be available to Mobiasbanca, and
- to help demonstrate the viability of SME lending in a market such as Moldova.

This is a category FI Type 1 project according to IFC''s environmental and social review procedure. Mobiasbanca will be required to establish an environmental management system to ensure that activities financed under relevant operations are consistent with applicable environmental, occupational health and safety regulations of Moldova and IFC''s Microfinance Exclusion List, designate appropriate individuals who will have responsibility for the environment and who will attend IFC''s environmental management workshop or an approved equivalent, and submit to IFC an environmental management plan and annual environmental performance reports.
Location of environmental documents In locally affected community

Contacts

For Inquiries About the Project, Contact

Nadejda Litvac
Head of International Finance and Documentary Transactions
Commercial Department
Mobiasbanca
Chisinau, Moldova
Phone:+ (373 22) 256347
Fax:+ (373 22) 244182
Email: nadejda.litvac@mobiasbanca.md

This Summary of Project Information (SPI) is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC's activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC's Disclosure of Information Policy that went into effect September 1998.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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