NEW €20 MILLION EBRD LOAN TO MOLDOVA’S MOBIASBANCA

Under the EU4Business-EBRD Credit Line, the EBRD is providing an additional €20 million loan to Moldova’s Mobiasbanca - Groupe Société Généraleto meet growing demand from local businesses investing in improved quality of their products and services.

A previous €10 million loan extended under EU4Buisness-EBRD Credit line to Mobiasbanca in December 2016 was met with high demand. 12 local firms have already benefited from EBRD financing and the number of loan applications is rapidly growing.

Dimitri Gvindadze, Head of the EBRD office in Chisinau, said: “We were impressed by the response to the first loan under this framework and encourage more Moldovan companies to apply for finance and grants that we are offering together with EU. Investment in higher standards and improved quality will help local firms compete in the EU market.”

Antoine Gabizon, President of the Management Board – CEO Mobiasbanca, said: "The additional EBRD loan reflects the confidence of Mobiasbanca, as a recognition for implementing the best financial facilities for entrepreneurship development in the Republic of Moldova. Mobiasbanca team is geared to provide clients with convenient financial solutions and professional expertise for the development of small and medium-sized enterprises, to help them in accessing UE market, and thus increasing the economy of the country”.

Thus, small and medium-sized enterprises from all the branches of the national economy can apply to Mobiasbanca, under the EU4Business-EBRD Loan Line Program, for attractive and long-term financing solutions for business development, investments in new technologies and equipment that meets EU standards, including:

·investment grants ranging from 10% to 15% of the contracted loan’s amount, payable upon fulfillment of the investment project
a broad spectrum of eligible purposes for funding

·free technical assistance from the leading Italian engineering and consulting company - D'Appolonia S.p.A.

·independent consulting services at the level of implementation of the project with the function of verification, certification and validation by Allplan company.

The maximum amount that may be contracted by SME within the EU4Business-EBRD Loan Line is €3,000,000 for a maximum of 120 months.

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