Summary of Proposed Investment
Project Number
29566
Company Name
Banca Comerciala Moldova-Agroindbank SA
Date SPI Disclosed
May 18, 2010
Country
Moldova
Industry
Financial Markets
Projected Board Date
Jun 21, 2010
Status
Completed
Sector
Commercial Banking - General
Department
Regional Industry - FIG - ECA
Environmental Category
FI
Previous Events
Approved : Jun 24, 2010
Signed : Jun 29, 2010
Invested : Dec 22, 2010
Project Description
The proposed IFC investment is consisting of an up to 5-year senior loan of up to $15 million for further on-lending to SMEs to Moldova Agroindbank S.A. (“MAIB” or the “Bank”).
In the given market environment, IFC is supporting MAIB with long term financing, sustaining Bank’s efforts in offering high quality financial services to SME sector, which has a high growth potential.
Furthermore, the Bank is the market leader in terms of lending and it is recognized as an important player in SME financing. The Bank’s strategy for the next 1-2 years is to focus on strengthening its presence on the SME market and on development of the retail business. The bank intends to maintain and increase the customer basis, including through support of new enterprises and development of existing companies from SME sector.
Therefore, MAIB is seeking a senior loan to support the Bank’s ongoing lending program to SMEs.
In the given market environment, IFC is supporting MAIB with long term financing, sustaining Bank’s efforts in offering high quality financial services to SME sector, which has a high growth potential.
Furthermore, the Bank is the market leader in terms of lending and it is recognized as an important player in SME financing. The Bank’s strategy for the next 1-2 years is to focus on strengthening its presence on the SME market and on development of the retail business. The bank intends to maintain and increase the customer basis, including through support of new enterprises and development of existing companies from SME sector.
Therefore, MAIB is seeking a senior loan to support the Bank’s ongoing lending program to SMEs.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Natalia Vrabie, President
9, Cosmonautilor Str., MD-2005, Chisinau, Republic of Moldova
Telephone: (37322) 22 27 70
Fax: (37322) 22 80 58
www.maib.md
9, Cosmonautilor Str., MD-2005, Chisinau, Republic of Moldova
Telephone: (37322) 22 27 70
Fax: (37322) 22 80 58
www.maib.md
For Inquiries and Comments About IFC, Contact
General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster