The proposed project will provide reliable access to financial services for micro and small enterprises which will give direct support to the development of the private sector.
The transition impact is expected to be significant as ProCredit provides continuous support to micro and small enterprises that would otherwise have little or no access to formal sector finance. The finance company will also support the development of the Moldovan financial sector by operating as a best practice institution committed to the principles of complete transparency and strong corporate governance.
ProCredit is a closed joint stock company founded in December 1999 which is devoted to providing financial services to micro and small enterprises. It is owned by ProCredit Holding AG, EBRD, IFC, Western NIS Enterprise Fund, KfW and DOEN Foundation.
USD 0.9 million existing subordinated debt will be extended for a further three years. USD 2 million will be provided as senior debt with a maturity of five years.
USD 2.9 million.
ProCredit will carry out its operations in accordance with EBRD’s “Environmental Procedures for Small and Micro Loans”. In implementing these procedures, it will require its borrowers to comply, at a minimum, with national/local environmental, health, safety and public consultation requirements.
Tel: 44 207 338 7730
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