Team Europe: European Investment Bank to provide €20 million to ProCredit Group to support SMEs in Moldova
The European Investment Bank (EIB) will provide €20 million to the ProCredit Group in Moldova, which will offer a new credit line for small and medium enterprises (SMEs), helping them to recover from the effects of the pandemic by helping to sustain jobs and to maintain liquidity and operations.
This transaction provides much-needed financing to companies in Moldova to address working capital issues created by the ongoing pandemic. The EIB loan also strengthens the national banking sector of Moldova and reinforces its ability to finance the country’s economic recovery. The credit line can be made available in multiple currencies, including local currency.
The EIB investment is part of a €55 million regional agreement with the ProCredit Group. It allows to create similar credit lines at ProCredit Group banks in Ukraine (€25 million) and Georgia (€10 million) to support the faster economic recovery of the EU Eastern partner countries.
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