The EBRD is helping to increase the flow of credit to larger corporate borrowers in
The new facility mechanism is similar to a guarantee whereby the EBRD will share up to 50 per cent of the risks associated with projects financed by the Moldovan bank.
As a result, Mobiasbanca will reduce its own risk exposure and increase the availability of larger, long-term loans to corporate clients.
Mobiasbanca has been active in reaching out to good-quality corporate borrowers. This latest project with the EBRD will enable it to make an even more significant impact on the Moldovan economy.
The EBRD and Mobiasbanca have been partners for many years. They have worked with various financing instruments aimed at small and medium-sized enterprises (SMEs) and also covered sectors as energy efficiency and trade finance.
The risk-sharing facility will help promote best business practices on the part of Mobiasbanca clients, as the loans will comply with EBRD requirements for creditworthiness, integrity and environmental standards.
"We strongly appreciate our effective cooperation with Mobiasbanca. This latest example of our successful collaboration will make an important contribution to helping larger companies gain access to finance," said EBRD President Sir
Ridha Tekaia, President of Mobiasbanca - Groupe Societe Generale, commented: "The signing of this agreement is further proof of our leadership in promoting new financial products, Mobiasbanca being the first bank on the Moldovan market to successfully launch a risk-participation facility. Our developing partnership with the EBRD allows us to support our clients and give them new opportunities for growth."
Mobiasbanca is a universal commercial bank, serving over 106,000 active clients in the corporate, SME and retail sectors through a network of 56 branches. The bank is a subsidiary of
The EBRD is providing the
Since it started operations in
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