The EBRD will provide ProCredit Bank with a new EUR 10 million loan to enhance the competitiveness of Moldovan SMEs
According to the published materials of the European Bank for Reconstruction and Development, the loan will be provided under the SME Competitiveness Program in the Eastern Partnership for on-lending to eligible micro, small and medium-sized enterprises (MSMEs). The loan will be available for repayment in Moldovan lei (MDL) or euro (EUR). In addition to long-term financing, eligible sub-borrowers will receive EU-financed technical assistance and grant aid in the form of investment incentives upon completion of their investment projects. Through SME Competitiveness Program and advisory support under the Eastern Partnership Credit Line, ProCredit Bank will support the upgrading of Moldova's micro, small and medium-sized enterprises (MSMEs) to EU standards. The proposed project will enable ProCredit Bank to provide investment loans to local MSMEs, finance the modernization of technologies and equipment necessary to meet EU standards in terms of product quality, health and safety measures and environmental protection, and thus help enterprises become more environmentally friendly and more competitive. ProCredit Bank will continue to expand its MSME portfolio, with a particular focus on financing investments leading to compliance with EU directives, contributing to the competitiveness of Moldovan MSMEs. As noted in the EBRD's materials, ProcreditBank is the 5th largest bank in Moldova (out of 11) with total assets of EUR 330 million and a market share of 4.2% at the end of 2023. ProCredit Bank is wholly owned by ProCredit Holding AG & Co and is part of the international ProCredit group headquartered in Frankfurt am Main. The group's 12 subsidiary banks operate in emerging and developing countries and also include a bank in Germany. The European Bank for Reconstruction and Development is the largest institutional investor in Moldova. The EBRD has invested more than 2.44 billion euros in Moldova within 176 projects. // 06.08.2024 – InfoMarket
