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The European Bank for Reconstruction and Development said Tuesday it approved a EUR 15 million senior unsecured loan to Moldova-Agroindbank (MAIB), to be used to finance investments by local small and medium-sized enterprises (SMEs).
The loan with a four-year maturity, including one-year grace period, will be available to eligible SMEʼs in three tranches of EUR 5 million each, the EBRD said. The EBRD and two equity firms, Horizon and Invalda jointly acquired a 41.09% stake in MAIB in October 2018.