PRIVATE SECTOR ABSORBS EIB INVESTMENT LOANS DURING THE CORONA CRISIS The Corona crisis has not prevented farmers from executing necessary investments and has not stopped the banks from lending. This fact is corroborated by the level of loan absorption worth Eur 120 million credit line of EIB called “Fruit Garden of Moldova� which finances investments in value chains related to horticulture: All businesses in Moldova operating in the fruit, vegetable, nuts and wine industries are eligible for these preferential loans. While loan absorption was low until 2019, it soared in 2020 despite the pandemic, which generated some uncertainty among Moldovans, but had less than expected impact on horticulture. In Q2 2020, the loans worth more than EUR 7 million were approved for as many as 26 investment projects. The number of small and medium-sized enterprises preparing their investment projects for EIB-financed loans is steadily growing, remaining unaffected by the pandemic. While only 5 projects were financed in the last quarter of 2019, there were already 30 in the Q3 2020.
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NEWSLETTER OF THE DELEGATION OF THE EUROPEAN UNION TO THE REPUBLIC OF MOLDOVA | SEPTEMBER - OCTOBER, 2020