By Maryana Ahmadova

Copyright trend

BAKU, Azerbaijan, September 27. The European
Investment Bank (EIB) and the European Investment Fund (EIF),
together forming the EIB Group, have signed two guarantee
agreements with ProCredit Bank S.A. (Moldova) and Victoriabank S.A.
to expand access to finance for small and medium-sized enterprises
(SMEs) in Moldova, Trend reports.

Backed by the EU4Business Guarantee Facility and funded by the
European Union, the initiative is expected to mobilise more than 77
million euros in new financing. Nearly 1,000 businesses across
Moldova will gain access to loans on more favourable terms,
including reduced financing costs and lower collateral
requirements.

“Today’s agreements send a clear signal of the EIB Group’s
strong commitment to Moldova’s private sector,” said EIB
Vice-President Teresa Czerwińska. “SMEs are the backbone of the
economy, and these EU-backed guarantees will give hundreds of
Moldovan companies easier access to finance, helping them invest,
grow, and create new jobs.”

EU Ambassador to Moldova Iwona Piórko noted that SMEs are a key
driver of innovation and growth. “The new local financing
facilitated through the EU4Business Guarantee Facility programme is
expected to help Moldovan SMEs to benefit from unprecedented
opportunities stemming from the EU accession process of the
Republic of Moldova and by access to the Union single market,” she

The agreements with ProCredit Bank and Victoriabank will support
entrepreneurs in sectors including manufacturing, agriculture, and
trade, strengthening economic resilience and job creation.

ProCredit Bank Chairperson Irina Coroi-Jovmir underlined the
importance of the guarantee for businesses lacking collateral:
“Clients incur no additional costs as we cover the guarantee costs.
This benefits both the bank and clients, enabling new projects and
comprehensive support.”

Victoriabank CEO Levon Khanikyan added that the agreement would
help accelerate SME growth: “With this EU-backed guarantee,
Victoriabank will offer flexible credit solutions tailored to each
business, enabling entrepreneurs to invest in equipment, expand
their operations and seize new opportunities.”