The EBRD is helping to increase the flow of credit to larger corporate borrowers in Moldova with an innovative €10 million risk participation facility to support lending by Mobiasbanca - Groupe Société Générale. 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 bank, IPN reports.
As a result, Mobiasbanca will reduce its own risk exposure and increase the availability of larger, long-term loans to corporate clients. 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, it is said in a press release.
“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,” said Ridha Tekaia, President of Mobiasbanca - Groupe Société Générale.
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 such sectors as energy efficiency and trade finance.
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
