CHISINAU (Moldova), December 22 (SeeNews) – The Black Sea Trade and Development Bank (BSTDB) on Wednesday announced that it had granted a loan of 3 million dollars (2.65 million euros) to the Moldovan company Express Leasing and Microcredit for on-lending to national microcredits. -, small and medium-sized enterprises (MSME).

BSTDB funds will be used to finance MSMEs, covering their various needs, from working capital to investments, the bank said in a press release.

The operation will have an impact on the development of the Moldovan economy by improving the competitiveness of the SME sector, strengthening export capacities and increasing employment, added the bank.

“Improving access to finance for micro and SMEs is vital to support the activities and investments of MSMEs and promoting this financial tool in the context of the current downturn caused by the pandemic can help them to invest and bounce back from the coronavirus crisis, ”said BSTDB vice president. Banking said Hasan Demirhan said.

“We are pleased to strengthen our partnership with Express Leasing and Microcredit by offering new funds to our existing partner in Moldova for the benefit of local businesses and the national economy where MSMEs are the main source of income and jobs.”

Express Leasing & Microcredit is a limited liability company incorporated in the Republic of Moldova. 100% owned by Broadhurst Investment Limited (registered in Cyprus), the main business of the company is credit and lease finance with a focus on SMEs and the microfinance sector.

Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia , Turkey and Ukraine. The headquarters of the BSTDB are in Thessaloniki, Greece. The authorized capital of the bank amounts to 3.45 billion euros.

($ = 0.8854 euro)