Three banks from Moldova are set to receive funding of 25 million lei from the European Fund for Southeast Europe (EFSE) as a way of encouraging national currency lending.
Valeriu Munteanu, first deputy governor of the NBM, who attended the conference “The power of the local currency”, organized within a regional campaign aiming to facilitate access to national currency financing for entrepreneurs, stated that EFSE will finance banks and non-bank credit organizations having small businesses and low-income households as final beneficiaries.
The campaign has a duration of three years with a potential extension. “The financing of the licensed banks of Moldova is pending approval. It aims to grant 25 million lei to three partner banks in the next six months,” according to a BNM the press release.
“The local business environment is the economy driving force. If we make sure it has the necessary resources and skills to develop, we will pave the way to success,” said Valeriu Munteanu.
The event was attended by European Union officials and high-ranking representatives from central and commercial banks in Armenia, Azerbaijan, Belarus, Georgia, Ukraine, Moldova, and other representatives of the business community.
The European Fund for Southeast Europe (EFSE) was established by the German Development Bank in December 2005, aiming to provide long-term financial assistance to micro, small and medium-sized enterprises. EFSE started its activity in the Republic of Moldova in 2006.
