OREANDA-NEWS. August 16, 2010. The money is earmarked for a long-term – up to 7 years – crediting of small and medium-sized enterprises (SMEs) of Moldova. Credit agreements were signed in the permanent representation of the World Bank in Moldova by President of BC Moldova-Agroindbank Natalia Vrabie and IFC Regional Director Dimitris Tsitsiragos.

As it was noted, Moldavian companies will be able to get credits to the amount up to USD1 million for 5-year period, and in some cases it can be prolonged up to 7 years. Money can be already received from November 2010. The interest rate on such credits will be discussed with every client individually. The deferment of payment will make up 2 years.

The additional advantage is in trade financing to the amount of USD5 million, aimed to support the Moldavian importers and exporters. According to Natalia Vrabie, due to IFC financing, Moldova-Agroindbank will increase its assistance to SMEs, will offer to its clients new opportunities in trade sector regarding, particularly, the enlargement of outlets.

The IFC Regional Director Dimitris Tsitsiragos called Moldova-Agroindbank a leader in the segment of private sector crediting in Moldova, with considerable presence in agro-industrial complex, emphasizing this became one of the factors, influencing the IFC decision. Dimitris Tsitsiragos told in the next half a year new similar agreements would follow, including with other banks. This is the first Collaboration Agreement with the IFC for BC Moldova-Agroindbank. The IFC enters the WB group and supports the development of private sector.