EBRD and EU increase support for small businesses in Moldova

The EBRD's 2011 Annual Meeting in Astana, Kazakhstan, 20-21 May 2011

The European Bank for Reconstruction and Development is providing a EUR 15 million loan to ProCredit Bank to support micro, small and medium-sized enterprises (MSMEs) in Moldova.

The new financing, supported by European Union (EU) funds, will help companies to become more competitive and seize new export opportunities, the EBRD said in a statement on Thursday.

The financial package will allow businesses to invest in the modernization of their equipment and production processes to EU standards in product quality, health and safety measures and environmental preservation.

The support is part of the EU4Business-EBRD credit line, for which the EBRD provides finance to MSMEs through partner financial institutions, while the European Union makes additional funds available to identify, verify and promote the most suitable equipment as well as incentive payments to MSMEs following the successful completion of upgrades.

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