With the European Union, supporting Microinvest’s activity in Moldova

The leader in the microfinance market in Moldova and the fifth largest institution in the financial sector in terms of outstanding loans, Microinvest started its operations in 2003 at the initiative of the Soros Foundation. It targets Moldovan MSMEs, in particular in the agriculture sector, a target sector which accounts for 30% of its portfolio. The MFI serves 39,904 borrowers and has a portfolio of EUR 192m. It deploys its products through a network of 16 branches and 68 loan officers. Microinvest is the only Moldovan financial institution to have obtained Smart Campaign certification in 2015, which was renewed in 2018.

The project involves a EUR 10m senior loan allocated to the Moldovan microfinance institution Microinvest to support the development of its loan portfolio. This credit line will be guaranteed by the European Union’s EDFI MSME Platform. This platform aims to create a portfolio of loans for microfinance institutions and banks mainly located in Sub-Saharan Africa and the European neighborhood.  

This financing is expected to provide about 4,500 Moldovan smallholder farmers and microentrepreneurs with new or improved access to microcredit. The project should support 170 MSMEs and 640 jobs, mainly in the MSMEs (indirect jobs). In addition, as 60% of Microinvest’s employees are women, and through its policy to help improve their working conditions and empower them (beyond the legal requirements), 30% of the project qualifies for the 2X Challenge, thereby contributing to gender equality.

Through its effects on development, the project will contribute to the achievement of SDG 1 (“No poverty”), SDG 5 (“Gender equality”), SDG 8 (“Decent work and economic growth”) and SDG 10 (“Reduced inequalities”).