IFC Supports FinComBank to Attract Investments, Driving Growth in Moldova Amid COVID-19

To help financial institutions with their response to the COVID-19 crisis, IFC will support FinComBank in its efforts to improve risk management practices and strengthen its core banking activities. This will help address the liquidity constraints that micro, small, and medium enterprises (MSMEs) are facing in the country, supporting economic stability.

According to the World Bank, Moldova was among the most affected countries in Europe by COVID-19, with a GDP decline of 7 percent in 2020. The credit risk continued to pose significant threat to the banking sector's stability. In response, the government introduced a range of measures to boost private sector recovery through structural reforms.