EBRD lends 5 mln euro to Moldova's Victoriabank to back MSMEs

The loan agreement was signed by EBRD president Odile Renaud-Basso as part of her official visit to Moldova, and Victoriabank CEO, Levon Khanikyan, the EBRD said in a press release.

Funds will help Moldovan companies become more competitive locally and internationally. Borrowers will be able to invest in new machinery and production improvements, improve product quality, health and safety standards, and develop environmental practices and resource efficiency, as 70% of the loan is expected to go toward green technology, the EBRD noted.

The loan is complemented with grant funding from the European Union, under the EU4Business programme.

Earlier this week, Moldova inaugurated a key road section rehabilited under a project financed by the EBRD.

($=0.902316 lei)