MOLDOVAN ENTREPRENEURS ARE INTERESTED IN EIB PROJECTS – ANTONIO CASTILLO

Moldovan entrepreneurs have been showing strong interest in projects implement by the European Investment Bank (EIB) in Moldova, including the Livada Moldovei project, the head of the EIB Representation to Moldova, Antonio Castillo, said.

In an interview with Profit magazine, Antonio Castillo said that currently 15 new projects for a total financing amount of 4.5 million euros are being reviewed and submitted for approval.

According to him, by October 2016, four projects have benefited from this line financing 50% of a total sub-projects cost representing over 2 million euros. "Financing is being mainly channeled to post-harvest infrastructure development, especially for the establishment of refrigerators, storage and sorting capacity. Investments in horticulture plantations and processing plan development are also being funded," the official said.

For the implementation of the Livada Moldovei project, BEI has selected four banks: Mobiasbanca – Groupe Societe Generale, Procredit Bank, Energbank and Comertbank.

"We look forward to being able to open the door to other intermediaries within our agri-food value chain loans," Antonio Castillo said.

According to him, the single biggest challenge currently faced by Moldova "is probably the weakness of the financial sector". "Any improvements thereof would greatly enhance the outreach capacity of the EIB project," Antonio Castillo said