Maib today signed an agreement with the European Investment Bank (EIB Global) for a financial package that includes a senior loan and a risk-sharing instrument, backed by the European Union. The loan amount is €50 million and is repayable over up to 10 years. It will increase access to finance and promote green investment, providing Moldovan small and medium-sized enterprises with favourable conditions, such as extended terms, competitive interest rates, etc. The capped partial additional portfolio guarantee, backed by the EU’s European Fund for Sustainable Development (EFSD), extends EIB Global support to Moldova’s private sector, facilitating an extra loan of €44 million for SMEs, IPN reports.
“There are two important facilities – that €50 million loan and the €44 million guarantee to support our customers. The €50 million loan will strengthen our capacities of re-lending to customers who will benefit from a competitive rate, while the €44 million guarantee package is very important because it will allow our customers to have access to loans. It goes to micro-, small- and medium-sized enterprises. We have many customers facing particular difficulties, and these guarantees that we are signing today will allow these companies to have the opportunity to develop further,” maib president Giorgi Shagidze stated in the signing ceremony.
Neighbourhood East and Institution Building Director, Directorate-General for Neighbourhood and Enlargement Negotiations of the European Commission Adrienn Kiraly said that this support for Moldovan enterprises will trigger the resilience of the business environment, generate jobs and economic opportunities for all. “The micro-, small- and medium-sized enterprises represent 60% of the total employment force in the Republic of Moldova in the private sector. That’s why they are very important for us and I’m glad to say that it comes to the first package of guarantees signed with the Republic of Moldova, which ensures access to initiatives,” noted Adrienn Kiraly.
Marion Hoenicke, Head of the Financial Inclusion Division of EIB Global, said that it is full cooperation in the interests of micro-, small- and medium-sized enterprises. “For us, the model of offering these services for this type of enterprises is a possibility to establish fruitful partnerships. We worked hard. A lot of work was done to make this guarantee a reality,” stated Marion Hoenicke.
The loan focuses specifically on green finance, with 10% allocated to under-financing dedicated to green project financing objectives. This is a signal of EU support for Moldova’s transition to a green economy. The loan will support both the country’s transition to a green economy and sustainable development - objectives outlined in the government strategy “Moldova 2030” and maib’s sustainability strategy. The Bank understands the importance of the transition to the green economy as a solution to overcome the climate crisis, supporting through financing companies with sustainable development ambitions and sharing care for the environment and the future.
During 2023, maib has steadily increased its market share in the SME segment, including due to its continued commitment to SME customers, providing them with innovative solutions and high-quality services. The Energy for Trading loan, designed to support the development of renewable energy projects based on photovoltaic technology, is an example of an innovative product, intended to help SMEs use renewable natural resources to their advantage. maib has also worked with the government within the limits of the “373” programme, which increases access to finance for ambitious SMEs.
