Moldova Financial Sector Framework II

cancelled

The EBRD is considering a multi-client, multi-product framework facility for an aggregate amount of €80 million equivalent. Under the framework facility, the EBRD will provide its Partner Financial Institutions (“PFIs”) with a full range of financial products including SME credit-lines, mortgage financing, retail financing, leasing finance, syndicated loans, subordinated debt and small equity investments. The proposed Framework will facilitate the development of SME lending, mortgage finance, retail financing, leasing and insurance products and other bank and non-bank financial institutions financing. Further improvements in operational efficiency and the increased amount of financing made available by EBRD through its Partner Financial Institutions are expected to increase competition, thus contributing to greater efficiency, innovation and customer orientation. EBRD will add to the overall lending capability of the financial sector in Moldova. Transition impact will be achieved by ensuring a more efficient medium and long-term funding of SMEs through loans and leasing products. Where appropriate EBRD may include a regional component in its sub-projects under this facility to ensure appropriate availability of financing outside the capital. Existing and new partner banks and non-bank financial institutions such as leasing, mortgage and insurance companies (each and jointly “Partner Financial Institutions”). Partner Financial Institutions should meet sound banking and high corporate governance standards to become eligible. Up to EUR 80 million equivalent. Up to EUR 80 million equivalent. Participating financial institutions under the Framework will be required to apply the EBRD's Environmental Procedures for Intermediated Financing. The type of Environmental Procedures applicable will be assessed on a case-by-case basis. The procedures include committing the participating financial institutions to ensuring compliance with the applicable national environmental, health, safety and labour standards and regulations, adherence to the EBRD’s Environmental Exclusion and Referral List and submission of annual environmental reports to the Bank. None. Respective Partner Financial Institutions eligible under the Framework II.