EIB continues to support projects of SMEs and mid-caps in Moldova
The European Investment Bank (EIB) has announced it is lending €20 million to CB Mobiasbanca - Groupe Société Générale SA to finance SMEs and smaller and medium sized projects by midcap companies in the Republic of Moldova.
The EIB funds will co-finance projects important for the development of the private sector and undertakings in the areas of social and economic infrastructure as well as the climate change mitigation and adaptation.
Including the current loan, the EIB has provided intermediated loans supporting SME and midcap company projects in Moldova totalling to €60 million since 2009 when it was invited by the 2009 Eastern Partnership Summit to extend its investment support for SMEs in the Eastern Partnership Region.
This loan will bring the EIB lending commitments in Moldova to some €420 million.
This operation is in line with the EIB’s priority to provide a better access to long term financing to SMEs. This will support growth by fostering economic restructuring, consolidation and diversification as well as strengthening competitiveness of the SME sector.