Most Romanian stock indices rebound, Electrica shines
Romania's Safetech Innovations net profit down 5% in 2023
Bosnia's Serb Republic GDP grows 2.4% y/y in Q4
REWE opens 377th Penny store in Romania
WIeland Electric to close Serbian plant by May - report
Nov 17, 2009 12:18 EEST
CHISINAU (Moldova), November 17 (SeeNews) – The European Bank for Reconstruction and Development said on Tuesday it extended 15 million euro ($22.4 million) credit line to Moldova's Moldindconbank for on-lending to small- and medium-sized enterprises (SMEs).
"This transaction reinforces the EBRD’s commitment to support the real economy sector in Moldova in the current challenging environment. The credit line to Moldindconbank will increase the availability of the much needed financing to SMEs and will support their development," EBRD Business Group Director for Financial Institutions Nick Tesseyman said in a statement.
The proceeds of the credit line will be used to finance investments and working capital of Moldovan SMEs with medium and long-term loans worth up to 1.0 million euro. The EBRD loan will be supported by technical assistance grants worth 90,000 euro under the Moldova-Financial Sector Framework.
Moldindconbank, based in the capital Chisinau, is the fourth largest bank in Moldova by assets and third by gross loans and total deposits.
The EBRD has committed more than 300 million euro in the Moldovan economy so far. The EBRD funds mobilised additional investments in excess of 240 million euro.
You have run out of free articles this month.
Sign up in for
and get ten (10) free articles per month or sign up for
and get unlimited access.
Browse our free newsletter options