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MAIB Leasing S.A.

Moldova | Financial Institutions

Identification Code:: OP/10/0804
Total Operation Cost:: — EUR
Maturity:: 72 months
Operation Status:: BSTDB Approved Amount – Approval Date

4.000.000 EUR – 25 Feb 2011
: BSTDB Signed Amount – Signed Date

4.000.000 EUR – 27 May 2011
: Status:
Completed
Description and Purpose of the Operation:: Provision of a Lease Financing Facility to MAIB Leasing to finance SMEs. The proceeds of the Facility will be used by the Borrower exclusively for the purpose of financing new and refinancing of existing lease transactions to beneficiaries which meet Lease Transaction Eligibility Criteria.
Countries of Operation:: Moldova (100,00%)
Financial Product:: SME's
Sector:: Financial Institutions
Domain:: Private
Borrower/Client:: MAIB LEASING S.A. was established as a subsidiary of Moldova Agroindbank. The Company provides financial leasing of vehicles, commercial, industrial, agricultural and office equipment and real estate. MAIB Leasing was the first leasing company to launch the product lease of real estate. The Company works with corporate clients, mainly SMEs, and individuals.
Co-Financers/Participants:: —
Guarantors/Sponsors:: —
Developmental and Regional Cooperation Impact:: Due to the Borrower's well-established market presence and strong support from its sole shareholder, the biggest bank in Moldova, the Facility will represent an excellent mechanism for BSTDB to extend funding to Moldovan enterprises which cannot be otherwise accessed by BSTDB directly. Providing the first leasing facility to a Moldovan leasing company, BSTDB will contribute to the sector development.
Environmental Classification and Impact:: Screened as FI category. The Borrower has adopted basic environmental procedures satisfactory to BSTDB and integrated them as fully as possible into its credit/investment appraisal and monitoring process. During the course of the loan the Borrower will need to undertake environmental assessment of the leasing operations with medium and high environmental risk, as well as ensure proper monitoring of these operations; ensure compliance of the leasing operations with applicable national EHS requirements; strictly follow the Bank's Negative List of Products; and submit annual EH&S performance reports.
Operation Leader:: Financial Institutions II
E-mail:: fi2@bstdb.org