The European Bank for Reconstruction and Development (EBRD) is providing a €15mn loan to ProCredit Bank in Moldova to support micro, small and medium-sized enterprises (MSMEs) in the country, the lender said on February 4.
The EBRD loan, supported by EU funds, is aimed at helping Moldovan companies to become more competitive and increase exports at a time when the country faces a severe impact from the coronavirus pandemic.
“The financial package will allow businesses to invest in the modernisation of their equipment and production processes to EU standards in product quality, health and safety measures and environmental preservation,” the EBRD said in the statement.
“It is one of our priorities to support businesses with much-needed finance and in their ambition to export their products. This is more important than ever following the impact of the coronavirus pandemic on businesses,“ EBRD head of Moldova Angela Sax said.
To date, EBRD has invested around €1.42bn in more than 140 projects in Moldova to support private businesses and key infrastructure and to build a greener and more sustainable economy.
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