European Investment Bank Signs Guarantee Agreements to Enhance Access to Finance for Moldovan SMEs

Strategic Insights -

The European Investment Bank (EIB) Group has signed guarantee agreements with ProCredit Bank S.A. (Moldova) and Victoriabank S.A. to enhance access to finance for small and medium-sized enterprises (SMEs) in Moldova. These guarantees are backed by the EU4Business Guarantee Facility, financed from the budget of the European Union, and will mobilize over €77 million in bank financing for nearly 1,000 Moldovan businesses. The financing made available to two Moldovan banks will give almost 1,000 businesses across the country access to loans on significantly better terms than those normally available.

Key Takeaways:

  • The EIB Group has signed two guarantee agreements with ProCredit Bank S.A. (Moldova) and Victoriabank S.A. to enhance access to finance for SMEs in Moldova.
  • The guarantees are backed by the EU4Business Guarantee Facility, financed from the budget of the European Union, and will mobilize over €77 million in bank financing for nearly 1,000 Moldovan businesses.
  • The financing made available to two Moldovan banks will give almost 1,000 businesses across the country access to loans on significantly better terms than those normally available.
  • The EU4Business Guarantee Facility aims to support SMEs in Moldova by reducing financing costs and making borrowing easier.
  • The agreement will support various sectors, including manufacturing, agriculture, trade, and others, strengthening the growth prospects of Moldovan businesses.
  • The EIB Group has already invested over €1.75 billion in Moldova since 2007, supporting EU policy objectives in key sectors.
  • ProCredit Bank S.A. prioritizes MSME lending, with 84% of loans to business clients, and has expertise in financing complex projects, including the agro sector.
  • Vectoriabank aims to support the local economy, foster innovation, and promote sustainable development, with a network of 64 branches and over 1,200 employees.
  • The agreement will enable entrepreneurs to invest, expand their operations, and seize new opportunities with confidence, creating new jobs and contributing to Moldova's overall economic resilience.

Statistics:

  • The guarantees will mobilize over €77 million in bank financing for nearly 1,000 Moldovan businesses.
  • The EIB Group has invested over €1.75 billion in Moldova since 2007, supporting EU policy objectives in key sectors.
  • ProCredit Bank S.A. has 84% of loans to business clients, and Vectoriabank serves around 360,000 clients, offering secure, modern financial solutions.
  • The EIB Group has a presence in Moldova since 2007, with over 30 projects supported.
  • The EU4Business Guarantee Facility aims to support SMEs in Moldova, reducing financing costs and making borrowing easier.

Sources:

  • European Investment Bank, "EIB Group signs guarantee agreements to support Moldovan SMEs"
  • European Investment Bank, "EIB Group and Moldova: Since establishing its presence in Moldova in 2007, the EIB's total investment in the country has reached about €1.75 billion across more than 30 projects"
  • ProCredit Bank S.A., "ProCredit Bank S.A. Moldova"
  • Victoriabank, "About Victoriabank"