Moldova Eximbank wins SME loan package

Eximbank Gruppo Veneto Banca in Moldova has secured a five-year €20mn credit from the European Bank of Reconstruction and Development (EBRD) to use to fund private small and medium-sized companies to modernise and expand their businesses.

The credit facility is the first of its kind to be granted under the EBRD's framework facility that provides local banks with a range of financing tools including SME credit lines, syndicated loans and energy efficiency credit lines.

The deal was signed by Jean-Marc Peterschmitt, EBRD director for bank relationships, and Marcel Chirca from Eximbank Moldova.

The Moldovan bank was established in 1994, and provides a range of bank services from cash management, deposit operations, international payments and account maintenance.

In May 2006, the Italian bank Veneto Banca acquired 100% of the shares of the joint stock commercial bank, buying them from Canadian Royal HTM group based in Toronto.

Following the acquisition the bank was renamed JSCB Eximbank Gruppo Veneto Banca.
Since then, Veneto Banca has extended a series of credit lines to the bank, with the last facility provided in June 2007. It signed a €20mn credit line to finance medium-term projects of corporate clients for up to seven years.