Press Releases

BSTDB and Mobiasbanca facilitate access to finance for SMEs in Moldova


07-Feb-2008

BSTDB and Mobiasbanca signed an agreement on a USD 5 million medium-term loan facility to be provided by BSTDB to Mobiasbanca aimed to increase its support for small and medium entrepreneurs in Moldova.

 

This new loan builds on successful cooperation between the two banks, following earlier BSTDB’s short-term revolving Trade Finance Facility of Euro 3 million provided in 2005. New loan will be used by Mobiasbanca to on-lend to Moldovan companies and will include the financing of projects with maturity up to 5 years, for the creation, modernization, expansion and diversification of business facilities; working capital financing for trade, service, infrastructure and manufacturing enterprises, export and pre-export financing, etc.

 

Including this operation, BSTDB’s portfolio in Moldova totals over USD 24 million provided through Mobiasbanca, Procredit Bank Moldova, Agroindbank and Banca Sociala.

 

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Founded in 1990, Mobiasbanca is one of the top banks in Moldova, holding about 9% of the market share. Being a market leader in consumer loans, Mobiasbanca offers products and services to both individuals and corporate customers, concentrating on small and medium sized companies. In 2007, 95% of Mobiasbanca’s shares have been acquired by Societe Generale Group, one of the leading European financial groups.

 

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. With an authorized capital of SDR 1 billion (approx. US$ 1,5 billion), the Bank supports economic development and regional cooperation by providing by providing loans, credit lines, equity and guarantees for projects in the public and private sectors in its member countries. BSTDB is rated Long Term Baa1 and Short Term P2 by Moody’s.