EXIMBANK and EBRD: a new loan agreement in support of Moldovan SME sector
EXIMBANK and EBRD: a new loan agreement in support of Moldovan micro, small and medium-sized enterprises
EXIMBANK contracts a 10 million loan from the European Bank for Reconstruction and Development (EBRD) in support of Moldovan micro, small and medium-sized enterprises (MSMEs), with attention to women-driven businesses.
EXIMBANK reaffirms its commitment to carry out its activity with a positive impact on the community, contributing to the growth and development of the national economy, and concludes a new loan agreement with EBRD. It will allow providing valuable support to the MSME sector in the country, the funds further to be accessed by businesses affected by the socio-economic and energy crisis in the region, while 35% of the total value of 10 million euros will be directed to women-driven businesses.
Vitalie Bucataru, First Deputy General Manager of EXIMBANK: “As part of the Intesa Sanpaolo Group, EXIMBANK reinforces its commitment to extending access to credit and financial instruments and to support the sustainable development of the entrepreneurial system, being aware that its decisions have a significant impact on the community. Thanks to the partnership with EBRD, we want to contribute to the development of the MSME sector in Moldova, ensuring support for managing and overcoming the negative consequences of the recent socio-economic circumstances. We are convinced of the success of this project, from which the local sector of small and medium-sized businesses, especially those led by women, will benefit from, and as a result the national economy in general.”
Being an active lender to MSMEs in Moldova, EXIMBANK focuses on increasing this activity, that possible thanks to its well positioning from the perspective of the high level of liquidity and capitalization. The new loan agreement concluded between EXIMBANK and the EBRD comes to further strengthen this objective, amplifying the support offered to the sector of micro, small and medium enterprises in the Republic of Moldova.
Catarina Bjorlin Hansen, EBRD Head of Moldova: “We are proud to continue our cooperation with EXIMBANK to further improve access to finance to Moldovan SMEs. EXIMBANK will on lend EBRD funds to SMEs which have been negatively impacted by the energy crisis and the war in neighbouring Ukraine, boosting their financial resilience and supporting economic recovery in Moldova.”
The support offered to micro, small and medium-sized enterprises in the Republic of Moldova is a constant objective for EXIMBANK, which in this regard collaborates with the EBRD since 2022, when a loan of €5 million aimed at stimulating the competitiveness of MSME sector in the country was contracted within the EU4Business-EBRD credit line. The funding allowed borrowers to invest in more modern equipment and align their processes with European Union (EU) standards. At least 70% of the funds were used to finance green technologies, and a third - dedicated to improving access to finance for women-led companies.
The EBRD is the leading institutional investor in Moldova. Since the start of its operations in the country, the Bank has invested more than €2 billion in 170 projects in Moldova’s financial, agribusiness, energy, infrastructure and manufacturing sectors.
15.12.2023
