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15 million USD for BC “Moldindconbank” S.A.

18.11.2010

Moldindconbank continues its fruitful cooperation with International Financial Organizations in the field of financing the real economy of Moldova. On 18th of November 2010 Moldindconbank signed a term facility agreement for USD 15 million with the entrepreneurial development bank FMO (the Netherlands Development Finance Company).

The proceeds of the credit line will be used to finance investments and working capital of Moldovan small and medium enterprises (SMEs) with medium and long-term loans.

„During the last year Moldindconbank has benefited from several credit lines offered by EBRD amounting in total EURO 25 million. The new cooperation with FMO proves the great confidence expressed by International Financial Organizations towards Moldindconbank, as well as a great opportunity for crediting the SME´s from Moldova.” mentioned Svetlana Banari, President of MICB.

Moldindconbank is the 3rd largest bank in Moldova by assets, gross loans and total deposits, holding an approximately 12-14 per cent of the market share. Moldindconbank has 96 banking offices operating all over the territory of the Republic of Moldova. The number of clients amounts 14 thousand companies and over 250 thousand individuals.

About FMO
The Netherlands Development Finance Company (FMO) is the entrepreneurial development bank of the Netherlands. FMO invests risk capital in companies and financial institutions in developing countries. With an investment portfolio of € 4.6 billion, FMO is one of the largest bilateral private sector development banks worldwide. Thanks in part to its relationship with the Dutch government, FMO is able to take risks which commercial financiers are not - or not yet - prepared to take. FMO's mission: to create flourishing enterprises, which can serve as engines of sustainable growth in their countries.

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