Luxembourg and Chisinau, October 21, 2024 – The European Fund for Southeast Europe (EFSE) is providing up to EUR 15 million equivalent in MDL to Microinvest to increase access to local currency financing for micro, small, and medium enterprises, including small scale agricultural producers and farmers, supporting the country’s economic resilience and growth.
This financing underscores the partners’ commitment to providing the underserved MSMEs, particularly those operating in rural areas, with sustainable and inclusive financial solutions, strengthening the competitiveness of local businesses and fostering the development of a resilient and vibrant entrepreneurship ecosystem in Moldova.
“This loan investment marks an important step in our efforts to support Moldova’s MSMEs.” said Andrea Hagmann, Chairperson of EFSE Board of Directors. “By offering this loan in local currency, we are enabling Microinvest to provide essential financing to businesses, helping them navigate the challenging environment while supporting job creation and economic resilience.”
“Microinvest provides accessible and responsible financing to entrepreneurs throughout Moldova. With the EUR 15 million loan provided by EFSE, we will be able to extend our reach, offering tailored financial solutions to businesses, particularly in rural areas. This additional funding will help us support sustainable business growth, generate employment opportunities, and foster economic resilience in regions that need it most. We are delighted to be partnering with EFSE and express our gratitude for their trust and efficient cooperation.”, said Dumitru Svinarenco, CEO of Microinvest.
About EFSE
An impact investment fund established in 2005, the European Fund for Southeast Europe (EFSE) aims to foster economic development and prosperity in Southeast Europe and the European Eastern Neighbourhood Region. EFSE was initiated by KfW Development Bank with the financial support of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission. As the first public-private partnership of its kind, EFSE draws its capital from donor agencies, international financial institutions, and private institutional investors. Finance in Motion GmbH, Germany, serves as EFSE’s advisor and Hauck & Aufhäuser Fund Services S.A., Luxembourg, acts as manager.
For more information on the European Fund for Southeast Europe, please visit: www.efse.lu
About Finance in Motion
Finance in Motion is a global impact asset manager focused exclusively on sustainable development in emerging markets and developing economies. The company structures, manages, and advises impact investment funds that bring together public and private investors to address climate change, strengthen biodiversity conservation, foster sustainable use of natural resources, improve livelihoods, and promote economic opportunities.
For more information, please visit: www.finance-in-motion.com.
About Microinvest
Microinvest is a non-banking lending organization operating in the Republic of Moldova. The company has consistently demonstrated its major role in the Moldovan financial market by providing financial support to local businesses, agricultural producers, and individuals, thereby contributing directly to the country’s economic growth. According to the National Bank of Moldova, Microinvest is the leader among non-bank lending organizations in the country, with a portfolio of over MDL 5.1 billion and a market share of 36.3% as of H1-24. About 68% of its portfolio is allocated to business clients, of which, over 44% to Agri sector. Microinvest is the only financial organization in Moldova that holds the international GOLD certificate in the field of customer protection (according to the Cerise+SPTF Client Protection Standards and methodology).
For more information, please visit: https://microinvest.md/
Media Contacts:
EFSE: Nusha Westhoff
Director Marketing & Communications
Mobile: +49 69 271 035-789
press@ggf.lu / press@efse.lu
Microinvest: Cristina Arhip-Furtuna
Head of Marketing Unit
Mobile: +373 68 31 96 81
marketing@microinvest.md
