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Transylvania Bank and Victoriabank grant first cross border union credit Romania-Moldova

Transylvania Bank and Victoriabank announced on Tuesday, that they granted the first cross border union credit Romania-Moldova, of 21 million euro, for the commercial center Shopping MallDova.

The commercial center is developed by the company Lemi Invest, a joint venture between Fiba Holding and Summa Turizm Yatirimciligi , a Victoriabank client for 10 years.

Shopping MallDova is the first commercial center at European level in Moldova, set up in 2008 on an area of 75,000 sq.m, according to the bank. Today the center hosts 100 shops of international brands, tens of restaurants and recreation areas, a cinema.

By refinancing Lemi Invest loans, the two banks indirectly finance the erection of the first class A+ office building in Chisinau and a 4 star hotel, Courtyard by Marriott, developed by one of the companies from Lemi Invest group.

“The adaptation of The Loan Market Association standards to the specific of Romanian law was a project started 4 years ago with Transylvania Bank team which was now launched in Moldova. The new financing product will allow access to companies in Moldova to financing of 15 million euro, which could not be backed by a single local bank,” said Bogdan Plesuvescu, the president of Victoriabank.