Maib announces that today it has signed subordinated loan agreement with the European Fund for Southeastern Europe (EFSE) for the amount of EUR 15 million. The loan will be used to finance micro, small and medium-sized enterprises (MSMEs) and help them increase competitiveness and resilience, while safeguarding them from potential exchange rate fluctuations. The loan meets the definition of Tier 2 capital thus enabling maib to optimize capital structure and maintain a strong capital cushion.

Giorgi Shagidze, maib CEO, said:

Financing agreement with EFSE is a substantial positive development for maib. The loan is the first subordinated loan in such a format for a banking institution in Moldova, and I am very grateful to EFSE for the partnership and trust to maib. The loan will be used to SME financing to further support our customers in the sector and enhance leadership position in the segment or market as a whole while optimizing our capital structure.

Klaus Müller, EFSE Board Chairperson, said:

Today, maib stands out in the Moldovan banking sector as the most advanced in terms of governance and institutional transformation thanks to the efforts of its committed shareholders and dedicated management team. We are especially pleased to partner with maib that is well equipped to deliver tailored services to MSMEs and be a truly strategic partner for EFSE in channelling sustainable finance to jointly build the country’s business and economic resilience.

Moldovan Capital Markets Day on London Stock Exchange on 15 November

London Stock Exchange, in association with maib and Renaissance Capital, welcome the institutional investor audience to Moldovan Capital Markets Day on 15 November in London. The event will be held in mixed physical/virtual format and will feature the Prime Minister of Moldova, the Governor of the National Bank of Moldova, the CEO of London Stock Exchange and panel speakers representing leading public and private Moldovan companies, government and representatives of international financial and development institutions, including EBRD. 

Please find further details about the event and the opportunity to take part HERE.

About EFSE 

An impact investment fund established in 2005, the European Fund for Southeast Europe (EFSE) aims to foster economic development and prosperity in Southeast Europe and the Eastern Neighbourhood Region by investing in the success of micro and small enterprises as well as improved living conditions for private households. As access to financial services is key to developing this segment, EFSE focuses on helping local financial sectors strengthen their ability to provide responsible financing for this target group. Alongside its investment activities through local partners, EFSE multiplies its impact through the EFSE Development Facility, which provides technical assistance, training, and other nonfinancial support to entrepreneurs and institutions.

EFSE was initiated by KfW Development Bank with the financial support of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission. As the first public-private partnership of its kind, EFSE draws its capital from donor agencies, international financial institutions, and private institutional investors. 

Finance in Motion GmbH, Germany, serves as EFSE’s advisor and Hauck & Aufhäuser Fund Services S.A., Luxembourg, acts as manager. 

For more information on the European Fund for Southeast Europe, please visit: www.efse.lu. 
For more information on Finance in Motion, please visit: www.finance-in-motion.com. 

Upcoming investor events

15 November – Moldovan Capital Markets Day, London Stock Exchange 

22 November – Virtual SEE Day

7-10 December – Winter Wonderland investor conference, Prague