Prime Capital first partner of EBRD Women in Business programme in Moldova

By Olga Rosca
@olgarosca

Angela Sax, EBRD Head of Moldova, and Carmina Vicol, CEO of Prime Capital

Angela Sax (left), EBRD Head of Moldova, and Carmina Vicol, CEO of Prime Capital 

  • Prime Capital becomes first lender in Moldova to join Women in Business programme
  • EBRD providing US$ 2 million equivalent in Moldovan lei for on-lending to women-led companies and US$ 1 million local currency equivalent for micro, small and medium-sized enterprises
  • Women in Business programme has financed 60,000 female entrepreneurs across 23 countries  

Women entrepreneurs in Moldova are to benefit from greater access to finance as Prime Capital, a local non-bank financial institution, is joining the EBRD Women in Business initiative. Prime Capital will receive a loan of US$ 2 million equivalent in Moldovan lei for on-lending to women-led businesses.

The financing will promote women’s entrepreneurship and participation in business by assisting with access to finance, know-how and technical advice. Prime Capital is the first Moldovan lender to join the Women in Business programme.

The initiative is led by the EBRD and funded by Sweden, the European Union and the EBRD’s Small Business Impact Fund, which has Italy, Japan, Luxembourg, South Korea, Sweden, Switzerland, Taipei China and the United States among its donors, as well as the EBRD Early Transition Countries Fund, including Canada, Finland, Germany, Ireland, Japan, South Korea, Luxembourg, the Netherlands, Norway, Spain, Sweden, Switzerland, Taipei China and the United Kingdom.

In Moldova the programme builds on the EBRD’s extensive consultancy experience working with local businesswomen. To date the Bank has helped – through advisory services – over 150 women-run companies to grow. It has also delivered training, mentoring and longer-term coaching to provide women entrepreneurs with the knowledge and confidence to take the next step.

Prime Capital will also benefit from technical support in order to better serve women-led businesses.  

The EBRD’s Women in Business programme, launched in 2014, is currently operating in 23 countries and has helped more than 60,000 women entrepreneurs to access finance and receive advice for their businesses. The programme has provided over €500 million in loans to women-led businesses.

In addition, Prime Capital will receive US$ 1 million equivalent in Moldovan lei for on-lending to micro, small and medium-sized enterprises in Moldova. 

The EBRD is the leading institutional investor in Moldova and has so far invested over €1.3 billion through almost 130 projects. The Bank also provides business advice to local small and medium-sized enterprises and has helped about 1,000 Moldovan firms improve their performance and growth.