After entering the Moldovan market as microfinance company in 1999, ProCredit obtained a license and started to work as a bank in 2008, being the only bank opened in Moldova in the last ten years, Info-Prim Neo reports. The modification of the organizational and legal form did not change its financing priorities - ProCredit Bank continues to finance projects in agriculture, especially in rural areas, where the access to resources is limited. Ilinca Rosetti, manager general of BC ProCredit Bank, said the company's loan portfolio on December 31, 2009 totaled 395.6 million lei. The average value of a loan was 58,925 lei, while the number of recipients of loans was 17,105. About 50% of them were private individuals. “We do not provide consumer loans as our group's lending experience shows that this type of loans contributes to the indebtedness not the prosperity of the people. The people should know to economize. We adopted a very responsible approach and the quality of our loan portfolio is high despite the world economic crisis,” Ilinca Rossetti said. In the future, ProCredit Bank will continue to support the small and medium-sized companies and finance agricultural projects, but will also finance projects aimed at increasing energy efficiency, environmental and other interesting projects. Ilinca Rossetti also said ProCredit Bank realizes that the Moldovan economy needs long-term loans, for 7-10 years, and hopes to provide them in the future. At present, the bank grants loans for 18 to 24 months. Anja Lepp, a member of the executive body of ProCredit Holding, said the international group ProCredit, which is based in Frankfurt, is present in 22 countries with 22 institutions, mostly in Eastern Europe. The assets of the group are assessed at €5 billion, while the share capital – at €392 million. “We came to Moldova to help the small and medium-sized businesses, which play a special role in the economy of any country. They create new workplaces, increase incomes and develop a culture of business,” Lepp said. ProCredit Bank has three shareholders: ProCredit Holding AG, Germany – 81.9%, KfW, Germany – 11.9%, and Stichting DOEN, the Netherlands – 6.08%.