December 19 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it is extending a 10 million euro ($10.96 million) loan to Moldova's Eximbank to support access to finance for micro, small, and medium-sized enterprises (MSMEs).
Eximbank will use the loan to expand its MSME lending capabilities and reach a broader client base, having pledged to allocate at least 35% of the EBRD's loan to women-led MSMEs, the EBRD said in a press release last week.
"Eximbank will on-lend EBRD funds to SMEs which have been negatively impacted by the energy crisis and Russia’s war on neighbouring Ukraine, boosting their financial resilience and supporting economic recovery in Moldova," said Catarina Bjorlin Hansen, EBRD Head of Moldova.
Headquartered in Chisinau, Eximbank operates a network of 17 branches and serves over 36,000 retail and corporate clients. Since 2018, it has been fully owned by Italian banking group Intesa Sanpaolo.
($=0.912176 euro)