ICS OCN TOTAL LEASING AND FINANCE SStatus: Completed investment
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Who is our customer
ICS Total Leasing & Finance S.A. (TLF) was established in 2006 to provide financial leases to micro, small and medium-sized enterprises (MSMEs). The lease portfolio mainly consist of motor vehicles and equipment leasing. In 2010, in addition to leases, TLF started with lending to MSMEs. With only operating through one office (no other branches), TLF has a low cost structure. Besides being a lender, FMO is a 25 percent shareholder of the institution.
What is our funding objective?
FMO has provided TLF with a senior secured loan of EUR 3 million and a tenor of 5 years. Thanks to TLF's outreach to the rural area and good market position, our loan will facilitate access to finance to local entrepreneurs whom otherwise would have little access to (long-term) financial services. This will enable the end-clients to develop their businesses and improve their livelihoods.
Why do we fund this investment?
For institutions in Moldova, the poorest country in Europe, it is hard to find long-term funding. With this loan, TLF will be able to continue its business and facilitate economic growth also outside the (larger) cities. This is in line with FMO's broader strategy to increase access to finance.
- Europe & Central Asia
- Moldova, Republic of
- Financial Institutions
- Effective date
- End date
- Total FMO financing
- EUR 3.00 MLN
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C)