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.
Related Articles
APS, EBRD buy €400mn sub-performing Romanian loans from Piraeus
The European Bank for Reconstruction and Development (EBRD) announced that alongside debt recovery specialist APS it is taking over a ... more
Turkish Deniz Bank stops opening Russian accounts
One of the largest Turkish banks DenizBank has significantly tightened the conditions for opening accounts for Russian nationals since the beginning of 2024 and has practically stopped approving such ... more
EBRD backs OTP Leasing to boost SME financing in Ukraine
The European Bank for Reconstruction and Development (EBRD) has stepped in to bolster financing for small and medium-sized enterprises (SMEs) in Ukraine, providing a guarantee to OTP Leasing to the ... more
Most Read
-
Russian technology imports at pre-war levels, tougher export controls needed – Bruegel
1 day ago
-
Live fish fall from the sky in Central Iran - video
2 days ago
-
Turkey reportedly still loading Azerbaijani oil for Israel despite “total trade ban”
1 day ago
-
Russia’s government to change following Putin inauguration
1 day ago
-
RAGOZIN: Exhausting Russia, strategies and fantasies
4 days ago
-
Shocking trial of ex-minister has shifted domestic violence attitudes in Kazakhstan, says brother
5 days ago
-
RAGOZIN: Exhausting Russia, strategies and fantasies
4 days ago
-
COMMENT: Aliyev continues to block the chance of peace in the South Caucasus
7 days ago
-
Russia is producing weapons at a record pace, and Ukraine’s partners are trying to increase support for Kyiv
6 days ago
-
Central European populism bites the hand that feeds it
6 days ago
-
Albanians campaign on social media to keep bus bridge created in freak accident
2 years ago
-
Saudi Arabia to scale back plans for Neom city
27 days ago
-
Iran vs Israel: Who is better equipped for war?
23 days ago
-
Leading emerging markets move rapidly up World Bank’s PPP GDP and FDI confidence rankings
28 days ago
-
The ruble overtakes the yuan as Russia's main currency for settling international trade deals
28 days ago