The Black Sea Trade & Development Bank (BSTDB) has selected Mobiasbanca as its first financial intermediary to deliver trade finance products in Moldova.

BSTDB will extend a €3mn revolving trade finance facility to Mobiasbanca to advance short-term sub-loans to companies in Moldova who export goods to or import goods from other BSTDB member countries.

Up to 50% of the facility can be used to finance export of goods from Moldova to non-member countries. Sub-loans made by the bank to its clients will be in amount up to €3mn, with a maximum maturity of 12 months.

Mobiasbanca is a Moldovan private bank established in 1990 and majority owned by a foreign investor. It is one of the largest banks in Moldova, which specialises in supporting small and medium-sized enterprises.

In 2002 it was registered as an open joint stock commercial bank and its shares are listed on Moldovan Stock Exchange.