Moldovan small and medium-sized enterprises will soon be able to benefit from a program of financial support offered by the EU and the European Bank for Reconstruction and Development. The program will help SMEs obtain advantageous loans in order to upgrade their production facilities and to seize new trade opportunities with the EU.

The project was announced today by European Commissioner for European Neighbourhood Policy and Enlargement Negotiations Johannes Hahn during an official visit in Tbilisi. According to him, the program will help SMEs make the most of the Association Agreements and the Deep and Comprehensive Free Trade Areas (DCFTA).

Under the program, which is part of a a facility supporting implementation of the DCFTA, the EU will provide a grant of 10 million euros. The money will be used to guarantee at least €69 million of EBRD financing for SMEs in Georgia, Moldova, and Ukraine. Individual investments will vary between 0.5 million and 10 million euros, especially for medium-sized companies.