„Mobiasbanca” doubles crediting potential

The Commercial Bank (CB) “Mobiasbanca” increased its crediting potential by USD 4.5 bln, due to a credit line of the European Bank for Reconstruction and Development. According to the Development and Marketing Department of “Mobiasbanca”, the financial resources were provided within the frameworks of the “Trade Facility Program” of EBRD. The funds are intended to crediting import-export operations and securing commercial transactions, the volume of which amounts to USD 9 mln, including USD 2 mln for guaranteeing commercial transactions and USD 7 mln for crediting import-export operation for a period of 18 months. In 2002-2003, within the frameworks of the same program, “Mobiasbanca” was provided with a credit of USD 4.5 mln, of which USD 1 mln for guaranteeing commercial transactions and USD 3.5 mln for running import-export operations. The crediting period was limited to one year. By developing the collaboration with EBRD “Mobiasbanca” managed to double the value of the program, up to USD 9 mln, and to increase the crediting period up to 18 months. The leadership of the bank considers that the signing of the agreements on crediting business and financing trade is very important for the sustainable development of the economy of the Republic of Moldova. In April 2006, the International Finance Corporation, the private sector branch of the World Bank Group, offered to “Mobiasbanca” for the first time in Moldova a financing package of USD 7 mln, including USD 5 mln for on-lending to small and medium businesses and USD 2 mln trade finance guarantee facility under IFC's Global Trade Finance Program.