The European Bank for Reconstruction and Development (EBRD), backed by the European Union, provides a loan worth 5 million euros to a commercial bank of Moldova for strengthening the capacities of financing the small- and medium-sized enterprises (SMEs). The package of financing was signed by EBRD President Odile Renaud-Basso and the president of the Moldovan bank, in the presence of Head of EU’s Delegation in Chisinau Janis Mazeiks on July 26.
The loan will help SMEs of Moldova become more competitive locally and internationally. They will benefit from support for the modernization of the technical equipment, enhancing the production’s quality, improving the health and safety measures. A priority will represent the actions of environmental protection and at least 70% of the loan will be used for measures of backing green technologies.
The assistance is part of a joint EU-EBRD programme, provided through the EU4Business-EBRD Credit Line. Within this programme, EU supplements EBRD’s financing with grants and free of charge technical assistance, provided through the EU4Business initiative. (Moldpres/Business World Magazine)