Financed ProjectsBanca Sociala 2 - Mortgage Financing.

Identification Code:

OP/08/0703

Total Operation Cost:

0

Maturity:

90 months

Operation Status:

Description and Purpose of the Operation:

Countries of Operation:

Moldova (100,00 %)

Financial Product:

SME's

Sector:

Financial Institutions

Domain:

Private

Borrower/Client:

Banca Sociala Moldova

Co-Financiers/Participants:

Guarantors/Sponsors:

Developmental and Regional Cooperation Impact:

The proposed Project would impact positively on the following priorities of the Moldovan government: • Development of competitive private banking sector and increase in competition; • Development of the mortgage finance market aimed to improve the living standards of the Moldovan citizens; • Regional development through the branch network of Banca Sociala; • Long-term financing will improve the liquidity profile of the bank

Environmental Classification and Impact (summary):

Residential mortgage financing is associated with a number of specific environmental risks related to safety of property to be financed such as site contamination, use of hazardous materials in construction, risk of flooding, land sliding, seismic activity and compliance with the applicable national construction and environmental standards and regulations. The Borrower shall be required to take into consideration these issues when financing residential property as part of the standard mortgage loan assessment procedure as well as observe the BSTDB Environmental Exclusion List and Negative List of Products and comply with the environmental regulations and standards of the Republic of Moldova in its lending activities.

Operation Leader:

Financial Institutions II

E-mail:

fi2@bstdb.org