{"id":15780,"date":"2022-05-12T14:34:17","date_gmt":"2022-05-12T11:34:17","guid":{"rendered":"https:\/\/www.invaldainvl.com\/?p=15780"},"modified":"2022-05-12T14:34:19","modified_gmt":"2022-05-12T11:34:19","slug":"maib-signs-a-e50-million-financing-package-from-ebrd-to-reinforce-its-funding-base","status":"publish","type":"post","link":"https:\/\/www.invaldainvl.com\/en\/group-company-press-releases\/maib-signs-a-e50-million-financing-package-from-ebrd-to-reinforce-its-funding-base\/","title":{"rendered":"Maib signs a \u20ac50 million financing package from EBRD to reinforce its funding base"},"content":{"rendered":"\n<section  class=\"invl-block invl-block-1-columns invl-columns\">\n\t\t\t\t\t<div class=\"column column-1-of-1 c-white padding-top-00 padding-left-40 padding-right-30\" >\n\t\t\t\t\t\t<p>A \u20ac50 million finance package provided by European Bank for Reconstruction and Development (EBRD) to maib for sustaining the national economy in the face of neighboring war in Ukraine was signed yesterday, 11 May 2022, at EBRD Annual Meeting in Marrakech by Giorgi Shagidze, Chief Executive Officer of maib, and Francis Malige, the EBRD\u2019s Managing Director for Financial Institutions.<\/p>\n<p>The first loan consists of \u20ac35 million within the EBRD Resilience and Livelihoods Framework pledged to support the countries and companies directly or indirectly affected by the war in Ukraine. The financial package will strengthen and diversify maib\u2019s funding base for sustaining the local business.<\/p>\n<p>The second loan of \u20ac15 million extends maib\u2019s participation in the EU4Business-EBRD Credit Line intended to finance the small and medium-sized enterprises (SMEs).<\/p>\n<p>The EU4Business-EBRD Credit Line is supported by the EU grants and free-of-charge assistance to borrowers. Under the agreement maib\u2019s will support SME clients to upgrade their products and services in line with the EU standards, to increase competitiveness locally and to realize international trade opportunities. Maib has previously received \u20ac30 million and financed about 50 SME clients under this programme.<\/p>\n<p>The EU is supplementing the EBRD financing with grants and free-of-charge technical assistance to borrowers under its EU4Business initiative. The agreement follows\u00a0maib\u2019s already signed EUR 30 million under the programme over the past 2 years.<\/p>\n<p><strong>Cementing maib\u2019s SME segment leadership<\/strong><\/p>\n<p>This financing fully aligns with maib\u2019s strategy and development in small business lending. In 2021 maib recorded a 35% increase in SME loans year over year, while extending its already leading position in SME loans by 4%. At the end of 2021 maib\u2019s market share in SME lending was 26.3%, and further improved to 26.7% at end of Q1 2022. Maib\u2019s medium term goal is to reach 40% share in SME lending by end of 2024. In the past year maib\u2019s SME business unit was redesigned to become more relevant, responsive and quick in addressing the needs of small business in Moldova.<\/p>\n<p>Giorgi Shagidze, maib CEO:<br \/>\nThis is a remarkable contribution to maib\u2019s strategy to encourage the small business in Moldova. This loan will help us assist the businesses cover their financing needs in light of the geopolitical events. I would like to express my gratitude to EBRD and the EU for their partnership with maib and continuous support for the Moldovan economy. We are very pleased and grateful to be able to help our clients making loans more accessible to enable their growth.\u201d<\/p>\n<p><strong>About maib\u00a0<\/strong><\/p>\n<p><a href=\"https:\/\/www.maib.md\/en\" target=\"_blank\" rel=\"noopener\">Maib<\/a>\u00a0is the largest bank in Moldova, accounting for 31.4% of country\u2019s banking assets and 34.9% in loans as of 31 December 2021. The bank provides 26% of all mortgage loans extended to Moldovans, serves over 35% of Moldova\u2019s population and is among the largest employers in the country. The bank is well capitalized with Tier 1 Capital ratio of 21.1% as of 31 December 2021. Maib is widely recognized for its customer service and product innovation. Since 2018,\u00a0maib\u2019s\u00a0largest shareholder is a consortium of investors composed of European Bank for Reconstruction and Development, Invalda INVL, a leading asset management group in the Baltics, and Horizon Capital, an Emerging Europe focused private equity fund manager.<\/p>\n\t\t<\/div>\n\t<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Maib signs a \u20ac50 million financing package from EBRD<\/p>\n","protected":false},"author":9,"featured_media":15777,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14],"tags":[],"class_list":["post-15780","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-group-company-press-releases"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Maib signs a \u20ac50 million financing package from EBRD to reinforce its funding base - 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