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Total Leasing & Finance

Moldova | Financial Institutions

Identification Code:: OP/11/0867
Total Operation Cost:: 5.000.000 USD
Maturity:: 72 months
Operation Status:: BSTDB Approved Amount – Approval Date

5.000.000 USD – 10 Feb 2012
: BSTDB Signed Amount – Signed Date

5.000.000 USD – 14 Jun 2012
: Status:
Completed
Description and Purpose of the Operation:: Provision of a Lease Financing Facility to finance SMEs. The proceeds of the Facility shall be used by the Borrower exclusively for the purpose of financing new and refinancing of existing lease transactions to beneficiaries which satisfy Lease Eligibility Criteria. The Loan aims to contribute towards expanding of the SME lending program of one of the leading companies in the leasing market in Moldova and thus facilitate the access to finance for small and medium sized private businesses and entrepreneurs.
Countries of Operation:: Moldova (100,00%)
Financial Product:: SME's
Sector:: Financial Institutions
Domain:: Private
Borrower/Client:: ICS Total Leasing SA was established in 2006. It is one of the leading and actively developing leasing companies in Moldova.
Co-Financers/Participants:: —
Guarantors/Sponsors:: —
Developmental and Regional Cooperation Impact:: Working with Total Leasing & Finance will assist BSTDB in its objective to support the development of the SME sector in the countries of the Black Sea region. Due to the Borrower's well-established market presence and strong commitment to develop SME business, BSTDB will be able to support growth and expansion of small and medium sized businesses and entrepreneurs which cannot be otherwise accessed by BSTDB directly. The Facility will help the Borrower to diversify its funding base.
Environmental Classification and Impact:: In order to reduce/avoid any Environmental, Health & Safety (EH&S) impacts that potentially may arise from financial leasing activities, the Borrower will need to provide evidence that it has adopted appropriate environmental policy and environmental assessment procedures and has integrated these as fully as possible in its overall portfolio management. The Borrower shall follow the BSTDB's Negative List of Products and local EH&S legislation, as well as make sure that the beneficiaries fully comply with these requirements.
Operation Leader:: Financial Institutions II
E-mail:: fi2@bstdb.org