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microinvest moldova entrepreneurs agriculture
DR
More than a year after granting an 8 million euro loan to Microinvest, Proparco reiterates its support for Moldova's leading microfinance institution, through a 10 million euro credit line that will benefit from the European Union's EFSD - MSME Platform Guarantee.

In May 2022, Proparco sent a strong signal of support to the Moldovan private sector affected by the economic repercussions of the conflict in Ukraine, by signing its first project in the country. This new financing, supported by the European Union via the EFSD - MSME Platform Guarantee program, is aimed at further developing Microinvest's portfolio, particularly micro-entrepreneurs and small-scale farmers.

This credit line will be guaranteed by the EFSD - EDFI MSME Platform program, which is supported by the European Union. The EDFI MSME Platform program is the first joint guarantee mechanism under the European Union's (EU) EFSD+ program. It aims to strengthen the lending capacity of local intermediary financial institutions to provide loans to micro and medium-sized enterprises (MSMEs).

For Stéphane Froissardey, Regional Director for Turkey, Caucasus, Balkans, and Central Asia at Proparco: "By supporting a leading and responsible microfinance institution, whose mission is the financial inclusion of Moldovan entrepreneurs, particularly in the agricultural sector, Proparco is contributing to the reduction of inequalities, a strong strategic objective of its 2023-2027 strategy 'Acting together for greater impact'!"

Proparco's financing of Microinvest will support nearly 630 indirect jobs, the granting of almost 4,500 microcredits and the support of 171 MSMEs, in particular small Moldovan farmers and micro-entrepreneurs.

The project will contribute to the following Sustainable Development Goals (SDGs): SDG 1 ("Poverty Eradication"), SDG 8 ("Decent Work and Economic Growth") and "SDG 10 ("Reducing Inequalities").

 

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