OREANDA-NEWS. June 22, 2009. Nine commercial banks of Moldova received about 100 million lei from the National Bank out of 650 million lei allocated to credit the real sector of economy.

The resources can be in banks for not longer than two days, therefore the money have already been received by borrowers, the National Bank Vice-President Victor Ciobotaru said in the interview to Moldovan mass media. Speaking of the crediting terms, Victor Ciobotaru said central banks, as a rule, give credits for up to a month as they are allocated not to credit the economy but to improve and maintain short-term liquidity.

That is why, according to the National Bank Vice-President, provision of credits by the National Bank for a year is much for the National Bank. Speaking of long-term credits, Victor Cibotaru emphasized they wouldn’t appear unless people place deposits for a longer period but confidence in macroeconomic stability is necessary for that.

The National Bank Vice-President said the goal of the credit line opened by the National Bank for commercial banks is not to replace resources of banks and for them to credit only by means of National Bank’s resources. “It should become the impulse, catalyst for the market for it to start working and rates to go down”, Victor Ciobotary emphasized and said crediting remained the largest asset and kind of activity of commercial banks.