Maib, the biggest lender in the Republic of Moldova, has signed a senior loan with the International Financial Corporation (IFC), part of the World Bank group.

The loan has two tranches, and the first one, worth EUR 20 million, was approved on May 4, 2023. The second tranche, worth USD 10 mln, will be signed at a later date.

The loan aims to support Maib in granting loans to microenterprises and small and medium enterprises (SMEs) in the Republic of Moldova, and especially to women entrepreneurs.

“We are grateful to IFC for offering this financing which will be essential for Moldova’s economic recovery and will address some of the country’s social challenges,” said Maib CEO Giorgi Shagidze.

Maib is the biggest lender in Moldova, with a share of 33% of the total deposits and 37% of the loans granted by the country’s banking system.

Last year, Maib announced plans to launch an initial public offering (IPO) and list its shares on the Bucharest Stock Exchange (BVB).

iulian@romania-insider.com

(Photo source: Maib)