EBRD lends Moldova's Mobiasbanca 7.0 mln euro

The loan comes under the Moldovan Sustainable Energy Financing Facility II (MoSEFF II), which provides loans to finance energy efficiency improvements in the private sector, EBRd said in a statement.

The financing is complemented by European Union grants to facilitate up to 20% of the loan and to engage consultants to provide technical advice for energy-saving investments.

A previous EBRD energy efficiency loan of 3.0 million euro to Mobiasbanca earlier this year has already been used.

Mobiasbanca, a subsidiary of Groupe Societe Generale, is Moldova’s sixth-largest commercial bank, serving over 87,000 active clients in the corporate, small and medium enterprises and retail sectors through a network of 53 branches.

EBRD has signed over 100 investments in Moldova so far, covering the energy, transport, agribusiness, general industry and banking sectors, and totalling almost 900 million euro.

($=0.7279 euro)