EU4Business-EBRD credit line helps tile producer Keramo Rosso.
The EBRD provides companies like Keramo Rosso with access to finance to make the necessary investments to do this – with the help of its local partner banks, in this case Mobiasbanca.
The tile producer obtained a loan of €280,000 to modernise its equipment: it bought a new press, the Pressa Sacmi PH2800.
Keramo Rosso was supported by the EU4Business-EBRD credit line, which was launched in Moldova in 2017. The credit line also supports businesses in Georgia and soon in Ukraine, and has helped more than 100 of them already.
Each of the three countries signed an Association Agreement with the EU, which includes the establishment of a Deep and Comprehensive Free Trade Agreement. This provides businesses with new opportunities to grow, as they will have better access to the EU, the world’s largest market.
To help them make the necessary investments to modernise equipment and processes, the EBRD provides €1.1 billion in credit lines and trade finance through local partner banks.
The EU complements these funds with €58.3 million to identify and verify the relevant improvements and train commercial partners on the new financial products.
“This is a flagship programme of the EBRD as it supports local companies in their ambition to grow, while at the same time it helps to build well-integrated, sustainable economies, fit for the future,” said Angela Sax, Head of the EBRD’s Moldova office.
“This truly is in everybody’s interest, as both local and international consumers have access to high-quality products and businesses are allowed wider opportunities to trade their goods.”
