Summary of Proposed Investment
Project Number
9934
Company Name
BC MoldIndConBank SATI
Date SPI Disclosed
Apr 26, 2000
Country
Moldova
Industry
Financial Markets
Projected Board Date
May 26, 2000
Status
Completed
Sector
Commercial Banking - General
Date Revised SPI Disclosed
May 1, 2000
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : Jun 20, 2000
Signed : Jan 30, 2001
Invested : Apr 24, 2001
Project Description
The three banks are relatively small, well-managed private banks oriented to lending to the small and medium enterprise (SME) sector. All three banks will receive a broad technical assistance (TA) from a first class Dutch bank, and IFC credit lines. The TA will strengthen their banking skills and term lending expertise. By providing credit lines to local banks to be on-lent to private SMEs, IFC will support the Moldovan SME sector. In this sense, IFC will facilitate the growing local base of entrepreneurs'' access to term financing, which is scarce in Moldova. IFC has brought a reputable Western bank into the project to provide TA to the banks, with a view to transforming them into sustainable, competitive financial institutions. The ultimate goal of the project is to help create sustainable banks and creditworthy private enterprises, which could eventually become attractive investment opportunities for foreign investors.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
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