The Interministerial Committee for Strategic Planning on June 3 approved the provision of a credit line of €10 million by the Council of Europe Development Bank (CEB), at the request of ProCredit Bank, for financing the SME sector of Moldova, IPN reports, quoting a communiqué of the Government.

The small and medium-sized companies will receive loans in advantageous conditions for developing businesses, epically in rural areas. Up to 50% of the cost of the investment projects will be covered with resources attracted from the CEB, while the rest with the own resources of the Moldovan bank and of the beneficiary. The loans will be repayable in seven years, with a grace period of two years.

By supporting such projects, the Government aims to develop the business environment, to improve the living conditions in rural areas and to create workplaces.