This funding will strengthen competitiveness and resilience of local businesses
- EBRD makes €20 million loan to Moldova’s largest non-bank lending institution, Microinvest
- Financing will support micro, small and medium enterprises (MSMEs)
- Aim is to strengthen private sector and support economic growth
The European Bank for Reconstruction and Development (EBRD) is providing a senior multi-currency loan of up to €20 million equivalent to NBFC Microinvest LLC, Moldova’s largest non-bank lending institution. The financing will be used for on-lending to local private micro, small and medium enterprises (MSMEs), helping to strengthen Moldova’s private sector and support economic growth.
This investment is part of the Bank’s Financial Intermediaries Framework (FIF) and aims to enable Microinvest to diversify its funding base, extend the duration of its liabilities, and expand MSME financing at a multiple of EBRD’s contribution. The project will also promote regional outreach and acquisition of new clients, addressing significant transition gaps in Moldova’s financial sector.
The project will boost the competitiveness and resilience of Microinvest, which was recently bought by Moldova’s Victoriabank.
“Supporting Microinvest is an important step in strengthening Moldova’s private sector. Micro, small and medium-sized enterprises are the backbone of the country’s economy, and expanding their access to finance is essential for growth, innovation and resilience. This new financing will enable Microinvest to reach more entrepreneurs across the country, helping them invest, expand and build stronger businesses despite the challenging regional environment.” – Francis Malige, EBRD Managing Director, Financial Institutions
“Today’s signing with the European Bank for Reconstruction and Development represents a significant step forward for Microinvest. This €20 million agreement is Microinvest’s first transaction with the EBRD and strengthens our ability to support entrepreneurs across the country. We would like to thank the EBRD for its strategic engagement in Moldova and for the trust placed in Microinvest as a key partner in strengthening financial inclusion.” – Dmitrii Svinarenco, CEO Microinvest
“We are proud to extend our partnership with the EBRD also through Microinvest, a company we have recently acquired. This loan will enable Microinvest to expand financing for the SME segment, providing the resources needed to continue growing. It is a direct contribution that Microinvest, together with Victoriabank, makes to the development of business and the economy.” – Levon Khanikyan, President of Executive Committee Victoriabank
With over 22 years of experience, Microinvest already plays a key role in the local financial market by offering tailored financial solutions to businesses, farmers, and individuals – helping to fuel both economic and social development. By expanding MSME lending and maintaining portfolio quality, Microinvest will play a key role in fostering a more robust and inclusive financial system in Moldova.
Microinvest is a dominant player in Moldova’s financial market, holding 40 percent of the non-bank financial institution market and ranking fifth among banks and NBFIs by loan book size. As of the third quarter of 2025, the company reported total assets of €392 million, underlining its strong market position and capacity to deliver impact.
Its sole associate, Victoriabank, is the third largest commercial bank in Moldova.
This investment reinforces the EBRD’s commitment to supporting Moldova’s private sector development and green transition, while promoting sustainable growth and resilience in the face of regional challenges.
The EBRD is Moldova’s biggest institutional investor. Since the start of Russia’s full-scale invasion on neighbouring Ukraine, the Bank has provided €1.7 billion to Moldova to help mitigate the economic consequences of the war on the country’s economy.
Overall, the Bank has invested almost €2.9 billion in 188 projects to date in the country, with 40 percent of its portfolio in sustainable infrastructure.
