• Data from a market study show that in the Republic of Moldova, the share of e-commerce is only 4% of the total domestic trade, with an annual volume of approximately 155 euros per capita.
• In the neighbouring country, Romania, this indicator is four times higher.

In line with supporting customers and developing the entrepreneurial environment in the Republic of Moldova, maib announces the signing of a Cooperation Agreement with the Future Technologies Project, financed by USAID, Sweden and Great Britain. The agreement, signed on March 16, 2023, unites the institutions' efforts to develop the e-commerce ecosystem and promote innovative financial solutions for SMEs in the Republic of Moldova.

The cooperation includes activities supporting the business environment to embrace technologies, adhere to e-commerce, use online payments, support integration on marketplace platforms and develop a cashless economy.

Scott Hocklander, USAID Moldova Mission Director:

"Together with our partners, Sweden and the UK, USAID is pleased to announce the official launch of the partnership with maib to encourage SMEs in Moldova to go digital and take advantage of the benefits of e-commerce. With a global e-commerce market valued at $3.5 trillion, the e-commerce opportunities are endless. Domestic and foreign e-commerce markets have tremendous growth potential and can help reduce the shadow economy and promote a sustainable economy in Moldova.

USAID already has a long history of supporting Moldova's e-commerce ecosystem. This partnership with maib is so interesting: it creates incentives and opportunities for SMEs in Moldova to adopt e-commerce with specialized financing, informational and promotional programs and a consolidated business environment".

Andrii Glevatskyi, Deputy Chairman of the Management Board maib, Head of Business Banking Division (IMM):

"Recently, we have discovered a growing interest of entrepreneurs in joining electronic commerce and implementing the technologies offered by maib for online payments. The trend also comes from the pandemic, which demonstrated how important it is for a business to be well-technological and customer-oriented, with payment solutions available at a click away, but also as a result of the payment preferences of customers who choose more to do online shopping.

Maib supports customers through products dedicated to e-commerce and, as well as consulting and assistance throughout the integration of payment technologies. We are honoured to join our efforts with USAID and the Future Technologies Project to help businesses in the Republic of Moldova develop their e-commerce to the next level through simple, secure, convenient solutions."

The project starts in March 2023 with activities and events directly supporting the process of e-commerce adoption by small and medium-sized enterprises. According to Doina Nistor, the Future Technologies Project Director, about 150 SMEs will be supported in the next period, which will develop e-commerce in Moldova and the region. Several partners will join their efforts in this direction, including the Alliance of Small & Medium-sized Enterprises from Moldova (AIM) and the American Chamber of Commerce in Moldova (AmCham Moldova), so that e-commerce becomes a practice and part of the regional business.

Maib - we join forces, we develop businesses!

About the Future Technologies Project in Moldova, funded by USAID, Sweden and Great Britain The Technologies of the Future in Moldova Project, funded by USAID, Sweden and Great Britain, supports the development of Moldova's digital, creative and environmentally friendly economy. The project, with a budget of 52.8 mln. USD and an implementation period of 5 years (2021-2026), promotes, in a team with key partners, innovation and new technologies in the following strategic sectors for the Republic of Moldova - information and communication technology (ICT), engineering, light industry, industries creative and digital media - to increase their competitiveness and integration in the global market.

About maib

Maib is the largest bank in Moldova, having systemic importance and serving almost a third of the country's population. As of 2018, maib's largest shareholder is a consortium, which includes the European Bank for Reconstruction and Development (EBRD), Invalda INVL, a leading Baltic asset management group, and Horizon Capital, a private equity fund focused on the emerging markets from Europe.