You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

EFSE lends 1.0 mln euro to Moldova's Microinvest

EFSE lends 1.0 mln euro to Moldova's Microinvest

CHISINAU (Moldova), October 8 (SeeNews) - The European Fund for South Eastern Europe (EFSE) said on Tuesday it has signed a 1.0 million euro ($1.4 million) senior loan agreement with Moldova’s Microinvest, the country's largest microfinance institution (MFI) in terms of assets.

"The loan is aimed at strengthening Microinvest’s funding base, enabling it to provide further support to micro and small enterprises (MSE) in the country’s rural areas as well as businesses engaged in agricultural activities," EFSE said in a statement.

The loan benefits from the financial support of the German federal ministry for economic cooperation and development, BMZ, and the European Commission.

EFSE was initiated by KfW Development Bank. It provides long-term finance primarily for micro and small enterprises in Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, former Yugoslav Republic of Macedonia, Kosovo, Georgia, Moldova, Montenegro, Romania, Serbia, Ukraine and Turkey.

($ = 0.737 euro)