IFC to Help Boost Access to Finance for Smaller Businesses, Women Entrepreneurs in Moldova

Smaller businesses and women entrepreneurs in Moldova are expected to have improved access to finance with IFC's EUR 20 million loan to maib, Moldova's leading commercial bank and lender. The investment aims to boost the country's economic resilience post-COVID, which is important given the growing uncertainty sparked by Russia's invasion of Ukraine.

The funding will support the bank's on-lending to micro, small, and medium enterprises (MSMEs), a key pillar of the Moldovan economy, which accounts for over 60 percent of total jobs in enterprises. Access to finance and the high cost of credit are the most often mentioned key constraints to MSME development in Moldova. The finance gap for women-owned MSMEs is especially significant at 20 percent of the country's total MSME finance gap, which is around 14 percent of Moldova's GDP.