The EIB Group provides guarantees to ProCredit Bank and Victoriabank, opening up access to new financing worth over €77 million for local businesses
The European Investment Bank (EIB) and the European Investment Fund (EIF), jointly the EIB Group, signed two agreements on September 26 with Moldova's ProCredit Bank and Victoriabank to provide guarantees to expand access to finance for small and medium-sized enterprises (SMEs) in Moldova. The guarantees are provided by the EU4Business Guarantee Facility, which is financed from the EU budget. Thanks to the guarantees, Moldovan partner banks will mobilize over €77 million in new financing for SMEs. This will grant nearly 1,000 businesses across the country access to loans on significantly more favorable terms than usual. The guarantees will reduce financing costs and make it easier to obtain loans by lowering collateral requirements – the assets or property that companies usually have to provide as security for a loan. By removing this burden, the initiative will enable businesses to invest with confidence, expand their activities, and create new jobs. "Small and medium-sized enterprises account for 99% of all businesses in the EU and play a key role in the economy. In Moldova, SMEs are the main drivers of innovation, job creation, economic growth, and prosperity. New local financing provided through the EU4Business Guarantee Facility will enable Moldovan SMEs to take advantage of the unprecedented opportunities opening up as a result of Moldova's accession to the EU and access to the Union's Single Market," said EU Ambassador to Moldova Iwona Piorko. Thanks to agreements with banks, this support will be provided to entrepreneurs from many sectors, such as manufacturing, agriculture, trade, and others, which will strengthen their growth prospects and contribute to Moldova's overall economic sustainability. "At ProCredit Bank Moldova, 84% of the loan portfolio is accounted for by business clients. We have experience in financing complex projects, including 19% in the agricultural sector and 11% in manufacturing companies. Our partnership with the EIB Group allows us to support businesses that do not have sufficient collateral by using the EIB Group's guarantee during the construction phase. This is crucial for customers who do not have the necessary collateral. We also finance sorting lines, specialized equipment, and working capital. Clients do not incur additional costs, as the cost of the guarantee is covered by the bank. This is beneficial for both the bank and its clients, opening the way to new projects and comprehensive support," said Irina Coroi-Jovmir, Chair of the Bank's Board of Directors. At the same time, Levon Khanikyan, CEO of Victoriabank, emphasized that the bank strives to help its SME clients grow faster and gain easier access to financing. “Thanks to this EU-backed guarantee, Victoriabank will be able to offer flexible credit solutions tailored to the needs of each business, enabling entrepreneurs to invest in equipment, expand their activities, and take advantage of new opportunities. This mechanism provides our customers with a practical and reliable tool for planning and confidently implementing their strategies,” said Levon Khanikyan. The EIB Group is a long-term lending institution of the European Union, owned by EU Member States. Since it began operating in Moldova in 2007, the EIB's total investment in the country has reached approximately €1.75 billion, which has been directed towards the implementation of more than 30 projects. These investments contribute to the achievement of EU policy objectives in key sectors such as energy security and efficiency, transport, health, agriculture, private sector growth, and forestry. As the financial arm of the European Union, the EIB continues to support Moldova's development and its path towards EU integration through strategic investments, including under the EU Growth Plan for Moldova. //26.09.2025 – InfoMarket.
