The European Bank for Reconstruction and Development (EBRD) has granted a loan of €7.5 mln to Moldova – Agroindbank (MAIB) for lending to small businesses of Moldova. EBRD loans come with a grant component of up to 15 per cent from EU, after the investment is made.
“With the provision of this funding, the number of companies that will have the opportunity to increase product quality, improve competitiveness and trade with EU market will increase even more,” said head of EBRD in Chisinau. Angela Sax. She has added that EU is already the largest trading partner of Moldova and shows tangible results of investments made, “which means better working conditions, more informed and qualified personnel, new technologies, quality products and competitive companies”.
The head of the Management Commission of MAIB, Serghei Cebotari, said he was pleased to announce that “the first loan granted by EBRD within the EU4Business Lending Line has been used very quickly, which reconfirms how expected and necessary this type of loan is for MAIB clients”.
The current funding supplements another €05 mln loan previously granted by EBRD. Both loans are part of the EU4Business – EBRD Lending Line, a joint programme of EBRD and EU that supports local companies to invest to make compliance of their products and services to EU standards.
A statement from EBRD states that companies that will take out a loan under the EU4Business – EBRD programme will receive a grant of up to 15 per cent from EU after successful completion of investment and also benefit from local and international consultancy provided by EU in the EU4Business – EBRD initiative. The purpose of these loans is to increase the competitiveness of local companies and stimulate trade with EU single market.
