Fruit Garden credit line: up to 60 million EUR made available for Moldovan SMEs
Since the launch of the Livada Moldovei credit line, more than 280 investment projects have benefited from EU funds provided through the European Investment Bank. There is currently a fund of around 60 million EUR to be made available to other beneficiaries. This was announced today by the new Head of the European Investment Bank office in the Republic of Moldova, Alberto Carlei, during a meeting with journalists at Europe Café. Having recently arrived in Chisinau, Mr. Carlei presented the results of the European Investment Bank’s work in the Republic of Moldova.
Since the beginning of 2021, 82 beneficiaries of the Livada Moldovei credit line have received loans worth 12.6 million EUR.
“Livada Moldovei is a key operation of the European Investment Bank, which aims to support the private sector in Moldova. This credit line has contributed to the revitalisation of the horticultural sector and supported many small and medium-sized enterprises to better operate in the highly competitive and narrow Moldovan market, as well as helping them to diversify their export destinations,” said Alberto Carlei, Head of the European Investment Bank’s office in the Republic of Moldova.
Also, Alberto Carlei mentioned that since 2007, the year in which the cooperation between the European Investment Bank and the Republic of Moldova began, 25 investment projects worth a total of about 800 million EUR have been implemented. These have covered several areas, supporting small and medium-sized enterprises (SMEs), education and research, the transport and energy sectors, as well as providing funds for the modernisation of the water and sewerage network.
“The European Investment Bank will continue to implement its commitments in the Republic of Moldova by supporting the implementation of the EU Green Deal, increasing energy efficiency, continuing to finance strategic infrastructure projects in key sectors such as transport and waste management, digitising the Moldovan economy and supporting SMEs and the private sector,” stated Alberto Carlei.
The largest share of the total investment, made available by the European Union through the European Investment Bank, went to the transport sector, about 40%. The main purpose of the funding was the rehabilitation of the most important sections of national roads. At the same time, the European Investment Bank supported the purchase of 90 new trolleybuses in the municipality of Chisinau.
More than 30% of the loan volume was made available to support SMEs. A significant share went to businesses in the horticulture and wine sectors.
The energy sector also received significant support – about 16% of the loan volume. The European Investment Bank has helped the Republic of Moldova diversify its energy sources, supporting projects such as the Ungheni-Chisinau gas pipeline and improving the reliability of Moldova’s power transmission system.
While many projects have already been successfully implemented, there are important initiatives that are still ongoing, such as the Solid Waste Management Programme, the Chisinau Energy Efficiency Programme and the Power Interconnection Project with Romania.