Mobiasbancă signed a new financing agreement with the European Investment Bank (EIB)

19 Nov 2013

Monday, November 18, 2013, BC “Mobiasbanca - Groupe Société Générale“ signed a new financing agreement with the European Investment Bank for a credit line worth of EUR 20 million.

The signing of this agreement represents a new successful partnership between Mobiasbancă and the EIB, which began in 2010, providing a loan amount of 20 mln. EUR. In such a way, Mobiasbancă becomes the first banking institution in Moldova, the EIB has signed such an agreement with. Thanks to the very convenient conditions of the facility - financing term of up to 10 years, with favorable interest rates - this amount was fully disbursed. Therefore, the signing of the new loan agreement is a continuation of the successful partnership with the EIB.

Ridha Tekaia, President of Mobiasbancă - Groupe Société Générale, stated: “Thanks to today’s agreement, Mobiasbancă will be able to support its customers - small and medium enterprises and corporate companies - to develop and strengthen business through access to long-term financing (up to 10 years) with a competitive interest rate, for financing of investment, capital and also financial leasing. The loan amount will be drawn in both EUR and U.S. dollars. Additionally, the facility includes a tranche of 30% for medium corporate companies and municipalities involved in energy efficiency and environmental initiatives, which is in line with Mobiasbancă social responsibility policy.”

This facility is in line with the priorities of the EIB to provide access to long term financing for SMEs. This will support economic restructuring, diversification, and strengthening the competitiveness of SMEs in Moldova.

Founded in 1958, the EIB is the European Union’s financial institution, having as shareholders the 28 EU member countries. EIB supports the development of the local private sector, social and economic infrastructure and climate actions. The Bank provides financing in long-term investment projects in over 150 countries.

Subsidiary of the Groupe Société Générale, Mobiasbancă is among the largest commercial banks in Moldova, serving over 96,000 active customers in the corporate, small business and private sectors. Mobiasbancă - Groupe Société Générale is continuously expanding its network of branches and agencies, which currently includes 53 units, to be closer to its customers in all regions of Moldova.