Investment & Fund Management

The European Investment Fund (EIF) and Mobiasbanc? – Groupe Société Générale entered into an InnovFin SME Guarantee agreement aimed at supporting innovative small and medium-sized enterprises (SMEs) and small mid-caps in Moldova. The specific challenge faced by these businesses was a lack of access to financing for research, development, and innovation activities. This agreement was designed to address the financing gap by enabling Mobiasbanc? to offer loans and leases at preferential terms, backed by a guarantee from the EIF under the Horizon 2020 framework.

The tailored solution provided through this agreement is expected to generate a portfolio of up to EUR 15 million in new loans and leases over the next two years. This initiative not only facilitates access to finance for innovative projects but also aims to stimulate economic growth and job creation in Moldova. The EIF's Chief Executive, Pier Luigi Gilibert, emphasized that Mobiasbanc?'s established presence in the country positions it well to reach SMEs in need of additional financing, thereby enhancing the support for small businesses in Eastern Europe.

As a result of this collaboration, Moldovan companies will benefit from EU-guaranteed loans, which are anticipated to significantly boost their research and innovation potential. This partnership exemplifies the productive relationship between the EU and Moldova, reinforcing the commitment to fostering innovation and economic development in the region.