With a €8 million loan allocated to the microfinance institution Microinvest via its subsidiary Proparco, AFD Group is supporting Moldova’s private sector which is facing major challenges due to the economic repercussions of the conflict in Ukraine. This partnership was signed in late May during the first visit to Moldova by Rémy Rioux, AFD’s CEO, and is Proparco’s first operation in this Eastern European country.

Some details and analysis from Stéphane Froissardey, Regional Director at Proparco (Turkey, Central Asia, Eastern Europe, Caucasus and Balkans zone) and Estelle Schuppert, Investment Officer at Proparco.

French Development Finance Institution Proparco invests 25 MUSD in Serengeti Energy, a Sub-Saharan hydro and solar-specialized independent power producer which develops, constructs, owns and operates grid-connected renewable energy resources in a region that is currently heavily dependent on fossil fuels.

In 2021, for the third consecutive year, Proparco has deployed more than €2 billion in annual commitments. Last year, Proparco's priority was to continue to support its clients to limit the impact of the health, social and economic crisis linked to the Covid-19 pandemic while contributing to the long-term structural needs of its intervention areas. Through its financing, Proparco is committed to entrepreneurs, companies and financial institutions working in sectors with a high impact on development such as renewable energy, microfinance and health in order to support job creation, gender equality and access to essential goods and services.