EBRD has new Moldovan partner

The European Bank for Reconstruction and Development (EBRD) has a new partner in Moldova’s banking sector - Eximbank Gruppo Veneto Banca. The sides signed an agreement to grant the Moldovan bank a loan of USD20m to support small and mid-sized enterprises (SMEs) on Friday, March 7, Info-Prim Neo reports. Jean-Marc Peterschmitt, the head of the financial institutions department of the EBRD says, although Gruppo Veneto Banca is present in other countries in the region, this is the first financial commitment of the group with the EBRD. “We want to support the small and mid-sized firms in Moldova through the loan, being certain they represent an important factor in securing a sustainable economic development and in creating new jobs,” the EBRD official underlined. Jean-Marc Peterschmitt says, recently, the EBRD’s strategy for Moldova has been discussed, which provides for offering EUR70m and that the project with Eximbank Gruppo Veneto Banca is the first to get the money meant not only for banks, but also for leasing and insurance companies. “In general we propose to diversify our crediting portfolio. We’ll finance projects in different branches, interesting and viable,” says the EBRD official. Marcel Chirca, the president of Eximbank Gruppo Veneto Banca says the amount of the loans to be offered to companies will be up to USD350,000 for small firms and up to USD3m to mid-sized firms, or their equivalents in lei or euros. The amounts and interest rates will be established individually, depending on the viability of their business plans. The loans will be disbursed for 5 years, with a grace period of 2 years. According to Jean-Marc Peterschmitt, the bank’s project for Moldova refers to cards and mortgage. The official has not specified if the EBRD plans to become a shareholder of Eximbank or of any other Moldovan bank. “This is decided by the EBRD shareholders,” Jean-Marc Peterschmitt answered the journalists’ questions.