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$5 million loan will enable MICB to support local entrepreneurs

19.12.2004
Entrepreneurs across Moldova will gain more access to finance following a $5 million loan from the EBRD to Moldindconbank SA (MICB), one of the country’s largest private banks specialising in lending to small and medium-sized enterprises (SMEs). MICB will use the EBRD funds, in turn, to make medium- to long-term loans of up to $500,000 to entrepreneurs and private businesses across various sectors of the economy who wish to develop or expand their businesses. The development of the Moldovan private sector is a key strategic orientation of MICB said Mr. Victor Cibotaru, President of MICB. MICB is fully committed to the private sector and the long term finance provided to the Moldovan private SMEs is one of the most important thing for their solid and stable development, Mr Cibotaru added.
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