LONDON: The European Bank for Reconstruction and Development (EBRD), in partnership with the European Union (EU), has announced a new £10 million loan package for ProCredit Bank Moldova aimed at supporting micro, small, and medium-sized enterprises (MSMEs) in the country, according to a report from Trend News Agency via the EBRD.

According to Trend News Agency, the funding is part of the EU4Business-EBRD Credit Line initiative and is designed to help Moldovan MSMEs enhance their competitiveness and integrate into international markets. The loan will be available in euros and Moldovan lei, facilitating businesses in upgrading their equipment, products, and services to align with EU standards.

At least 70 percent of the loan amount has been designated for investments in green technologies, promoting environmentally sustainable practices among Moldovan businesses. Additionally, the package includes EU grant funding, which provides incentives for successful investment projects undertaken by clients of ProCredit
Bank. The bank will also offer project implementation consulting services to its clients, further aiding them in making effective use of the financial resources provided.

ProCredit Bank has been a significant partner in the implementation of the EU4Business program in Moldova, having already channeled £35 million into the local economy since 2018. The new financial injection of £10 million is expected to meet the growing needs of ProCredit Bank’s business clients, ensuring ongoing support for the development of the MSME sector in Moldova.

The EBRD’s continued investment in Moldova, which totals over £2.4 billion across 177 projects, reaffirms its role as the largest institutional investor in the country, committed to fostering economic growth and sustainable development.