The European Union (EU) and the European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, have announced a joint program to support small and medium-sized enterprises (SMEs) in Georgia, Moldova and Ukraine.
Search Results for: Moldova
MICROCAPITAL BRIEF: Green for Growth Fund, Southeast Europe (GGF) Lends $2m to Microinvest of Moldova for On-Lending to Micro-, Small Enterprises (MSEs)
The Green for Growth Fund, Southeast Europe (GGF), a Germany-based fund that invests in energy efficiency and renewable energy sources, has disbursed a senior loan of EUR 2 million (USD 2.6 million) to Microinvest, a microfinance institution (MFI) in Moldova that was founded by Soros Foundation – Moldova, an affiliate of the US-based Open Society Foundations.
MICROCAPITAL BRIEF: Sweden, European Bank for Reconstruction and Development (EBRD) Facilitate Energy-Efficiency Advice for 100 Small, Medium-sized Enterprises (SMEs) in Moldova
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral financial institution, is helping 100 Moldovan small and medium-sized enterprises (SMEs) receive advice on energy efficiency practices from local consultants in a program funded by the government of Sweden.
MICROCAPITAL BRIEF: 3k Moldovan Remittance Recipients Save $7m After European Bank for Reconstruction and Development (EBRD) Financial Education Program
The UK-based European Bank for Reconstruction and Development, a multilateral institution that finances development projects, has initiated a financial education project in Moldova that is aimed at providing recipients of remittances with improved financial skills to manage the money they receive as well as to encourage them to open bank accounts [1].
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $1.3m to Microfinance Institution Microinvest of Moldova
The European Fund for Southeast Europe (EFSE), a Luxembourg-based, government-backed microfinance investor that aims to foster regional development in southeastern Europe and parts of central Asia, recently announced that it has provided a loan of EUR 1 million (USD 1.3 million) to Microinvest, a microfinance institution (MFI) founded by the Soros Foundation in Moldova, to support micro- and small enterprises (MSEs) [1].
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $2.6m to Mobiasbanca – Groupe Société Générale of Moldova for Residential Energy Efficiency
In an effort to boost residential energy efficiency in Moldova, the UK-based European Bank for Reconstruction and Development (EBRD) recently loaned EUR 2 million (USD 2.6 million) to Mobiasbanca, a Moldovan commercial bank and subsidiary of France-based Groupe Société Générale SA, to be on-lent to individual households, housing associations, management companies, condominiums and energy service companies.
MICROCAPITAL BRIEF: Online Fundraiser Kiva, Microlender Microinvest of Moldova End Partnership
Kiva, a US-based online microlending fundraiser, and Moldovan microfinance institution (MFI) Microinvest have agreed to terminate their six-year partnership for undisclosed reasons.
MICROCAPITAL BRIEF: responsAbility Loans $7.8m to ProCredit Moldova, $1.2m to Noa of Albania
In June, responsAbility Social Investments AG, a Swiss investment company, made debt investments totaling USD 7.8 million in ProCredit Moldova, a subsidiary of Germany’s ProCredit Group. As of 2011, ProCredit Moldova has assets totaling USD 150 million, USD 117 million in loans outstanding, return on equity of 8.8 percent and USD 43.6 million customer deposits.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Launches $45m Credit Framework to Increase Household Energy Efficiency in Moldova
The European Bank for Reconstruction and Development (EBRD), an international financial institution headquartered in England, recently launched a EUR 35 million (USD 44.7 million) program called the Moldovan Residential Energy Efficiency Financing Facility (MoREEFF) to assist Moldovan households in reducing household energy usage and costs.
MICROCAPITAL BRIEF: responsAbility Loans $6m to ProCredit Bank of Moldova, Foundation for International Community Assistance (FINCA) Russia, FINCA Jordan
responsAbility Social Investments AG (responsAbility), a Swiss asset management company that invests in microfinance institutions (MFIs) and microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has loaned the equivalent of USD 6.3 million to ProCredit Bank of Moldova, Foundation for International Community Assistance (FINCA) Russia and FINCA Jordan through MIVs that it manages.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Provides $89m to Finance Small and Medium-Sized Enterprises (SMEs) Through ProCredit Bank Moldova and UniCredit Bank Serbia
The European Bank for Reconstruction and Development (EBRD), a multilateral finance institution based in London, is providing loans to banks in Serbia and Moldova in an effort to increase access to finance for micro-, small and medium-sized enterprises (MSMEs).
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Promote Energy Efficiency Through Memorandum of Understanding (MOU) with Government of Bulgaria, $9.7m Loan to Moldovan Bank BCR Chisinau
In its effort to boost energy efficiency in Eastern Europe, the European Bank for Reconstruction and Development (EBRD), a development finance institution headquartered in London, recently signed a memorandum of understanding (MOU) with the government of Bulgaria and loaned EUR 7 million (USD 9.7 million) to BCR Chisinau, a Moldovan commercial bank.
MICROCAPITAL BRIEF: Microfinance Investment Vehicle European Fund for Southeast Europe (EFSE) and ProCredit Bank Moldova Sign $7m Synthetic, Local-Currency Loan for On-Lending to Microenterprises
The European Fund for Southeast Europe (EFSE), a microfinance investment vehicle (MIV) advised by Finance in Motion and managed by Oppenheim Asset Management Services, has provided ProCredit Bank, the Moldovan operation of ProCredit Holding, with a long-term, synthetic loan in Moldovan leu (MDL) equivalent to USD 7 million for on-lending to micro- and small enterprises.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) and European Fund for Southeast Europe (EFSE) Loan $10m to ProCredit Bank Moldova to Expand Microfinance Operations
The European Bank for Reconstruction and Development (EBRD), an international financial institution, and the European Fund for Southeast Europe (EFSE), a microfinance investment fund, recently loaned USD 10 million to ProCredit Bank Moldova, a development-oriented bank.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Extends $5m Local Currency Credit Line to Microinvest to Boost Microfinance Industry in Moldova
The European Bank for Reconstruction and Development (EBRD) has extended an MDL 62.7 million (USD 5 million) local currency credit line to Microinvest of Moldova for on-lending to micro and small enterprises (MSEs). This is EBRD’s first local currency loan in Moldova.
MICROCAPITAL STORY: Moldovan Microfinance Institution (MFI) Microinvest Receives Investments totaling $5.5m from Oikocredit, Soros Economic Development Fund (SEDF), the Balkan Financial Sector Equity Fund (BFSE) and Richard Driehaus
Recent investments totaling the equivalent of USD 5.5 million have been made to Moldovan microfinance institution (MFI) Microinvest by its shareholder’s: Oikocredit, Soros Economic Development Fund (SEDF), the Balkan Financial Sector Equity Fund (BFSE) and Richard Driehaus. Oikocredit contributed the equivalent of USD 1.3 million, SEDF the equivalent of USD 834,055, BFSE the equivalent of USD 2.98 million and Richard Driehaus the equivalent of USD 367,995. The investments led to an increase in Microinvest’s authorized capital to the equivalent of USD 7.5 million. Microinvest aims to expand technology, products and services.
responsAbility Global Microfinance Fund Makes Loans Totaling over USD 2.2 mn to Microfinance Institutinos in the Philippines, Peru, Nicaragua and Moldova
This story comes to us courtesy of the CGAP-MIX newsletter. In the wake of several other microfinance investments this month, responsAbility Global Microfinance Fund continues its streak with four additional loans ranging from USD 200,000 to USD 1 mn, totaling USD 2.2 mn. The first of the loans is a USD 200,000 investment going to the Cooperative Rural Bank of Bulacan of the Philippines. The Cooperative Rural Bank of the Bulacan does not report to MIX market, the microfinance information clearinghouse, nor does it make its financial data available to the public.
Global Commercial Microfinance Consortium Issues First Tranche of Loan to Moldovan Microfinance Institution MicroInvest
MicroInvest of Moldova, a non-bank financial institution, received the first tranche of a USD952,000 loan from the Global Commercial Microfinance Consortium (GCMC), according to the CGAP-MCM Newsletter. This was the first transaction between the two institutions.