BSTDB Increases Support for SME Lending in Moldova

Press Release | 27-Feb-2004

BSTDB will make available a USD 4 million 3-year loan to Moldova Agroindbank in order to support expansion of the bank's lending to small businesses in Moldova. The transaction follows the BSTDB guarantee facility extended in December 2002 to MEC Moldova, thus increasing the total amount of the BSTDB financing for SME sector in Moldova to USD6.5 million.

By financing banks active in SME lending in the in the greater Black Sea region BSTDB aims to improve access of small businesses to much-needed medium-term financing, while promoting market reforms and economic development in its member countries. The increasing BSTDB financial support to the SME sector in its member countries now totals over USD 77.5 million.

Moldova-Agroindbank (MAIB) is the largest commercial bank in Moldova owned by the Western NIS Enterprise, the EBRD, and private companies and individuals. The bank operates in various sectors of economy and has the largest network of branches in Moldova. The bank actively cooperates with international financial institutions. The bank was distinguished as the "Best Domestic Bank" in Moldova in 1999 and 2000 by Euromoney.