The European Bank for Reconstruction and Development (EBRD) has announced the launch of a new phase of its advisory programme in Moldova to bolster its support for local micro, small and medium-sized enterprises (MSMEs).
The Bank will deploy Italy’s contribution of €500,000 through the Central European Initiative (CEI) to help MSMEs and start-ups boost their digitalisation, unlock financing opportunities and enhance their competitiveness.
Small businesses, including youth-led enterprises and innovative start-ups, will benefit from targeted advisory support, expertise, training and access to finance, aimed at helping them address challenges, and strengthening their economic resilience.
Italy’s contribution will also enable the rollout of the EBRD’s Star Venture programme, a flagship initiative that helps innovative and high-tech start-ups scale their business with dedicated mentoring, consulting and access to financing.
“MSMEs make up the majority of Moldova’s private sector, but they have faced a number of challenges since the start of the war on Ukraine, including transportation, logistics and supply chain disruptions, already exacerbated by COVID-19,” says a press release by the EBRD.
The new initiative is aligned with the EBRD’s new Country Strategy for Moldova 2023-28, which commits to helping Moldova build a competitive, inclusive and well governed private sector that empowers innovation and entrepreneurship.
