Moldova, Council of Europe Development Bank sign loan worth 70 million euros

Chisinau, 4 August /MOLDPRES/ - Moldova’s Finance Ministry and the Council of Europe Development Bank (CEB) today signed an agreement loan worth 70 million euros, in order to attenuate the impact of COVID-19 on the health and employment. The loan is structured in two components: health and support for micro-, small- and medium-sized enterprises (SMEs).      

Forty million euros will be provided for the Health component and will finance the following types of expenses: procurement, within emergency procedures, of medical equipment and consumable materials, rehabilitation and transformation of medical rooms/units, mobilization of additional expertise, in order to ensure measures of emergency response to COVID-19.  

Another 30 million euros will be provided as support for the micro-, small- and medium-sized enterprises. The financial resources will provide financing for working capital and the investment needs of SMEs hit by the crisis, thus helping them preserve the viable jobs. This component will be carried out through the re-crediting of the end beneficiaries through the participating financial institutions.   

Deputy Prime Minister, Finance Minister Serghei Puscuta thanked the Council of Europe Development Bank for the constant support provided to Moldova. The official noted that the concerned agreement represented an efficient and prompt answer to Moldova’s needs in the fight against COVID-19. ‘’The attenuation of the COVID-19 effects on the health of Moldova’s residents, as well as on the national economy remains, in continuation, a priority of the government,’’ Puscuta said.    

For his part, CEB Governor Rolf Wenzel said that ‘’given that COVID-19 continues to have a quite big impact on the economy and the society, it is vital that the CEB member countries enhance their response capacities.’’ ‘’We are delighted to back Moldova in its efforts to strengthen the health system, as well as to provide the necessary assistance for the small enterprises hit by the crisis,’’ the government of the Council of Europe Development Bank added.