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Banking on Moldova's farmers

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Banking on Moldova's farmers
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Fruit and nut farming accounts for a substantial part of Moldova's economy with around 250,000 people working in the sector. Despite that, farmers and entrepreneurs often find it difficult to obtain finance to start or modernise a business.

An initiative called the 'Fruit Garden of Moldova' aims to change that making it easier for small and medium sized enterprises to gain access to finance so they can set themselves up or modernise.

Thanks to a credit line of €120m from European Investment Bank, the programme enables intermediary banks in Moldova to provide finance to SMEs in the country.

Business Planet spoke Antoine Gabizon, President of Mobiasbanca in Moldova, one of the banks participating in the 'Fruit Garden of Moldova' project.

He said, "It's a very very positive initiative. They do provide a comprehensive range of services, good and attractive conditions and in addition to that, they're providing advisory services both in the financial area and on the technical side, meaning they're helping entrepreneurs to prepare their file, to make it bankable one hand, and they're also providing advisory services when it comes to purely business technics."

To watch the interview, click on the video link above.