By Olga Rosca
The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) are stepping up support for micro, small and medium-sized enterprises (MSMEs) in Moldova.
A new €5 million(US$5.63million) EBRD loan for Victoriabank will help Moldovan firms across the country become more competitive locally and internationally. The support is part of a joint programme – the EU4Business-EBRD credit line, for which the EBRD provides finance to MSMEs through partner financial institutions, while the EU complements the offer with incentive grants under the EU4Business initiative.
The borrowers will be able to invest in modern equipment and production upgrades, enhance product quality, health and safety measures, as well as advance environmental practices and resource efficiency since at least 70 per cent of loan is expected to fund green technologies.
This programme is also available in Armenia, Georgia and Ukraine.
The EBRD is the leading institutional investor in Moldova. Since the start of its operations in the country, the Bank has invested over €1.4 billion in 146 projects in Moldova’s financial, agribusiness, energy, infrastructure and manufacturing sectors.
