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The EBRD will provide Mobiasbanca - OTP Group with a loan of 15 million euros for lending to small and medium-sized enterprises in Moldova in order to ensure their modernization and increase competitiveness.

The EBRD will provide Mobiasbanca - OTP Group with a loan of 15 million euros for lending to small and medium-sized enterprises in Moldova in order to ensure their modernization and increase competitiveness.

As noted in the message of the European Bank for Reconstruction and Development, the loan was approved in the context of the bank's response to the COVID-19 pandemic. This is a loan of 15 million euros under the SME Competitiveness Program in the Eastern Partnership for on-lending to eligible micro, small and medium-sized enterprises (MSMEs). The EBRD loan will be allocated to Mobiasbanca - OTP Group in three tranches of 5 million euros each. In addition to long-term financing, eligible sub-borrowers will receive EU-funded technical assistance and grant support in the form of investment incentives upon completion of their investment projects. According to the EBRD, the SME Competitiveness Program in the Eastern Partnership will allow Mobiasbanca - OTP Group to provide loans for investment purposes to local MSMEs in order to modernize technologies and equipment necessary to meet EU standards in terms of product quality, protection measures health and safety and environmental protection, which will help businesses become greener and more competitive. The owner of Mobiasbanca - OTP Group is the Hungarian OTP Bank Nyrt, which now owns 98.26% of the bank's shares. Mobiasbanca - OTP Group ranks 4th (out of 11) among the largest banks in Moldova in terms of total assets (643 million euros), its market shares in loans and deposits as of January 2021 amounted to 17% and 14.5%, respectively. // 16.04.2021 - InfoMarket.

News on the subject

The EU stands for the preservation of the independence of the National Bank of Moldova and the results of reforms carried out in the country's banking sector.
The EU stands for the preservation of the independence of the National Bank of Moldova and the results of reforms carried out in the country's banking sector.
Moldova-Agroindbank retains the 1st place in terms of the volume of loans issued with an indicator of 15 billion 453.5 million lei (33.8% of the total) as of the end of February 2021.
Moldova-Agroindbank retains the 1st place in terms of the volume of loans issued with an indicator of 15 billion 453.5 million lei (33.8% of the total) as of the end of February 2021.
The weighted average interest rate on new loans in lei (MDL) in Moldova reached a new historical minimum, amounting to 7.4% per annum in February 2021.
The weighted average interest rate on new loans in lei (MDL) in Moldova reached a new historical minimum, amounting to 7.4% per annum in February 2021.
The law prohibits the provision of any financial assistance to the state, since any loan from the NBM will lead to the impoverishment of the population, the National Bank of Moldova states.
The law prohibits the provision of any financial assistance to the state, since any loan from the NBM will lead to the impoverishment of the population, the National Bank of Moldova states.
The volume of new loans in Moldova in February 2021 amounted to 2 billion 673.2 million lei, which is 12.5% more than in February 2020.
The volume of new loans in Moldova in February 2021 amounted to 2 billion 673.2 million lei, which is 12.5% more than in February 2020.
The volume of money transfers to Moldova through banks in favor of individuals in January-February 2021 amounted to $219.35 million, up 21% compared to the same period in 2020.
The volume of money transfers to Moldova through banks in favor of individuals in January-February 2021 amounted to $219.35 million, up 21% compared to the same period in 2020.