Infomarket

Publications of the part

The EBRD releases 15 million euros loan to support the competitiveness of Moldovan companies and boost their export opportunities.

The EBRD releases 15 million euros loan to support the competitiveness of Moldovan companies and boost their export opportunities.

As noted in the message of the European Bank for Reconstruction and Development (EBRD), this new financing has been allocated through Mobiasbanca - OTP Group to support micro, small and medium enterprises of Moldova. The EBRD loan will be provided to local companies to modernize technology and equipment to meet EU standards in terms of product quality, health and safety and environmental protection measures, which will help businesses become greener and more competitive. At least 70% of the loan will be used to finance investments in green technologies. For successful investment projects, borrowers are eligible to receive grant incentives and technical assistance funded by the EU under the EU4Business initiative. This assistance is part of the EU4Business-EBRD Credit Line, a co-financing instrument designed to improve the competitiveness of local businesses and support their export ambitions. Investing in high standards and high quality products will enable businesses to compete more successfully in both local and international markets. In addition to its presence in Moldova, the EU4Business-EBRD credit line program is available in Georgia and Ukraine and has recently been expanded to the entire Eastern Partnership region. Support for small and medium-sized businesses remains at the core of EU assistance to Moldova. Currently, there are about 30 SME-focused programs under the EU4Business initiative, funded or co-financed by the European Union, which provide financial assistance (loans, grants and guarantee schemes) and business advice (training, coaching and international partner search schemes) or a combination of them. The EBRD is one of the largest institutional investors in Moldova. To date, it has invested around 1.4 billion euros in 143 projects in the country to support private business and key infrastructure, and build a greener and more sustainable economy. The owner of Mobiasbanca - OTP Group is the Hungarian OTP Bank Nyrt, which owns 98.26% of the bank's shares. Mobiasbanca - OTP Group ranks 4th (out of 11) among banks in Moldova in terms of total assets (643 million euros), its market for loans and deposits was 17% and 14.5%, respectively, as of January 2021. / / 30.04.2021 – InfoMarket

News on the subject

Moldovan banks’ income from the exchange rate difference in January-March 2021 amounted to 249.55 million lei, down 5.63 million (-2.2%) compared to the same period in 2020.
Moldovan banks’ income from the exchange rate difference in January-March 2021 amounted to 249.55 million lei, down 5.63 million (-2.2%) compared to the same period in 2020.
The volume of money transfers to Moldova through banks in favor of individuals in the first quarter of 2021 amounted to $ 365.34 million, an increase of 32.1% (+ $ 88.88 million), compared to the same period in 2020.
The volume of money transfers to Moldova through banks in favor of individuals in the first quarter of 2021 amounted to $ 365.34 million, an increase of 32.1% (+ $ 88.88 million), compared to the same period in 2020.
Banks of Moldova keep liquidity indicators at a high level - NBM.
Banks of Moldova keep liquidity indicators at a high level - NBM.
Moldovan banking sector’s net profit in 2020 amounted to 1.65 billion lei, down 27% (-0.6 billion lei) year on year.
Moldovan banking sector’s net profit in 2020 amounted to 1.65 billion lei, down 27% (-0.6 billion lei) year on year.
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.
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.