EFSE and Victoriabank team up to increase access to finance for small businesses in Moldova

On 29 September, the European Fund for Southeast Europe (EFSE) announced a new partnership in Moldova with Victoriabank, one of the top three banks in the country and a key financier of the local economy. The signing ceremony took place in the Moldovan capital Chisinau.  

​The fund has committed to provide €15 million for the purpose of financing micro, small and medium enterprises (MSMEs) affected by the economic, social, and security challenges triggered by Russia’s act of aggression against Ukraine.  

​According to the EFSE press release, this loan investment “resonates with the pressing needs of MSMEs facing increased costs of doing business, logistics and supply disruptions as well as continued high security and economic uncertainty”.

“We believe this collaborative effort will strengthen the backbone of Moldova’s economy, allowing it to grow and, just as important, gear up for a sustainable future,” said Klaus Müller,  EFSE Board Chairperson.