May 3 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) is considering to grant a 35 million euro ($37 million) loan to Moldova-Agroindbank (MAIB), for on-lending to local companies directly or indirectly affected by economic consequences of the war in Ukraine.
The loan will support Moldovan economy by enhancing MAIB's lending capacity and providing much needed access to finance for Moldovan companies suffering from the economic impact of the war in Ukraine through supply-chain disruptions and other shocks, with the ultimate goal of preserving livelihoods in the country, the EBRD said on Friday in a project summary document posted on its website.
The two-year senior unsecured loan under the Resilience and Livelihoods Framework passed EBRD's final review and is awaiting approval on May 23.
MAIB is the largest systemic bank in Moldova with total assets of 1.9 billion euro, total equity of 278 million euro, a loan portfolio of 1 billion euro as of end-March, and a market share of 33%, the EBRD noted.
MAIB is 41.09% owned by HEIM Partners, a consortium of investors, including EBRD, Horizon and Invalda. Other minority shareholders include management, staff and local companies.
($= 0.9502 euro)
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