EBRD and EU Release New Funding to Moldovan Businesses
The European Bank for Reconstruction and Development is providing new EUR 15 million loan to the local unit of Hungary's OTP Bank in Moldova under the EU4Business-EBRD Credit line
The project will enable OTP Bank to continue supporting the investments of local micro, small and medium-sized enterprises (MSMEs) in upgrading their technology and equipment necessary to meet EU standards, to boost competitiveness and support export potential, the EBRD said.
At least 70% of the loan is expected to finance investments in green technologies.
Small businesses are the backbone of the Moldovan economy and supporting them is vital to secure sustained economic growth despite the negative impact of war in the neighboring Ukraine, the EBRD said.
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