BSTDB Supports SME Financing in Moldova During COVID-19
Press Release | 22-Dec-2021
Funds to support entrepreneurial activity
The Black Sea Trade and Development Bank (BSTDB) provided a USD 3 million loan to Express Leasing and Microcredit SRL, Moldova for on-lending to domestic micro-, small and medium-sized enterprises (MSMEs). The BSTDB funds will be used to provide finance for MSMEs, covering their various needs from working capital to investments.
The operation will generate a development impact for the Moldovan economy through improved competitiveness of the SME sector, export capacity building and increase in employment.
“Improving access to finance for micro- and SMEs is vital for supporting the activities and investments of MSMEs and promotion of this financial tool under the current slowdown caused by the pandemic may help them invest and bounce back from the coronavirus crisis. We are happy to strengthen our partnership with Express Leasing and Microcredit by offering new funds to our existing partner in Moldova for the benefit of the local companies and national economy where MSMEs are the main source of income and employment”, said Hasan Demirhan, BSTDB Vice President Banking.
OCN ICS “Express Leasing & Microcredit” SRL is a limited liability company incorporated in the Republic of Moldova. Owned 100% by Broadhurst Investment Limited (registered in Cyprus), the company’s main activity is loan and lease financing focusing on SMEs and micro-financing sector.
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. BSTDB is rated long-term “A” by Standard and Poor’s, “A2” by Moody’s and “A+” by the Russian credit rating agency ACRA. For information on BSTDB, visit www.bstdb.org.
Contact:
Haroula Christodoulou
E-mail: cchristodoulou@bstdb.org
Phone: +30 2310 290533
Twitter: @BSTDB; @Haroulax
