Press Releases

The Black Sea Trade and Development Bank Supports the Small and Medium Enterprises' Sector Development in Moldova


Thessaloniki, 22-Jul-2011

The Black Sea Trade and Development Bank (BSTDB) extended a USD 10 million loan to Moldova Agroindbank (MAIB). The loan will support lending to small and medium-sized enterprises (SMEs) in Moldova, and at least 50% of the loan will be used for financing companies and entrepreneurs involved in agribusiness, a key sector of the Moldovan economy.

“Small and medium businesses represent a backbone of a market economy. Supporting SMEs is a prime target for BSTDB as a development bank, especially in the current challenging market conditions. This loan will increase the availability of funds for agribusinesses and other producers in Moldova, generating a substantial development impact” stated Andrey Kondakov, BSTDB President.

The operation strengthens the BSTDB support to the SME sector development in Moldova, complementing the Bank’s EUR 4 million SME Leasing Facility provided to MAIB Leasing, a subsidiary of MAIB, earlier this year.

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Established in 1991, Moldova-Agroindbank is the largest bank in Moldova with assets of USD 713 million and equity of USD 150 million as of end-2010. The bank offers a full range of products and services in domestic and foreign currency to corporate and retail clients.

 

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. The BSTDB headquarters is in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is SDR 3 billion (appx. EUR 3,3 billion). BSTDB is rated long-term A by Standard and Poor’s and A3 by Moody’s.

 

Press Contact

Haroula Christodoulou

Tel: +30 2310 290533

Email: cchristodoulou@bstdb.org