EBRD mulls EUR 35 million loan to Moldova Agroindbank to back firms affected by Ukraine war

by   CIJ News iDesk V
2022-05-04   07:44

The European Bank for Reconstruction and Development (EBRD) is considering to grant a EUR 35 million loan to Moldova-Agroindbank (MAIB), for on-leading to local companies directly or indirectly affected by economic consequences of the war in Ukraine.

The loan will support Moldovan economy by enhancing MAIB’s lending capacity and providing much needed access to finance for Moldovan companies suffering from the economic impact of the war in Ukraine through supply-chain disruptions and other shocks, with the ultimate goal of preserving livelihoods in the country, the EBRD said on Friday in a project summary document posted on its website. MAIB is the largest systemic bank in Moldova with total assets of EUR 1.9 billion euro, total equity of EUR 278 million, a loan portfolio of EUR 1 billion as of end-March, and a market share of 33%, the EBRD noted.