Moldindconbank has signed a Memorandum of Understanding with German Sparkassenstiftung Moldova for the implementation of the “Social-ecological transformation of rural areas by improving financial access for climate change adaptation measures in the Republic of Moldova” project.

The overall objective of the project is to strengthen the development potential of Moldova’s rural regions by supporting an adequate supply of financial services, in particular for investments in climate change adaptation measures, as well as to improve the skills of financial service users within the rural population and rural enterprises (SMEs and farmers).

The German government through the German Federal Ministry for Economic Cooperation and Development (BMZ) funds the project.

The German Sparkassenstiftung Moldova aims to support BC “Moldindconbank” S.A. in creating, strengthening and implementing ESG risk management by introducing the “Sustainable Finance Compass” and the “Risk Radar”.

In addition, BC “Moldindconbank” S.A. and German Sparkassenstiftung Moldova will cooperate in order to organize and implement training activities, in particular the DSIK business games.

Moldindconbank is one of the largest financial institutions and one of the pillars of the banking system in the Republic of Moldova. The bank offers a full range of financial services to all categories of customers: individuals, legal entities and financial institutions. Currently, Moldindconbank is a leader in issuing bankcards, reaching over 1.3 million cards for all categories of customers, namely: cards for children, for women, social cards, business cards and cards for the most sophisticated categories of customers – Premium category.

Sparkassen-Finanzgruppe is the largest financial group in Europe and the market leader in Germany. In addition to savings banks, it comprises regional banks (Landesbanken), regional building societies, insurance companies and numerous other financial service providers.

The objective of the German Sparkassenstiftung for International Cooperation is to help partner institutions to become more professional and therefore able to offer their customers permanent access to financial services. The main target groups are small and medium-sized enterprises (SMEs) as well as low-income groups.