EFSE

EFSE deepens partnership with Victoriabank through a Tier II subordinated loan of EUR 15 million to support MSMEs in Moldova

Luxembourg and Chișinău, October 23 2024 – The European Fund for Southeast Europe (EFSE) is expanding its partnership with Victoriabank, Moldova’s third-largest bank, to boost support for micro, small, and medium enterprises in the country.  

As part of this partnership, EFSE extends EUR 15 million equivalent in MDL through a seven-year Basel III compliant Tier II subordinated loan to help Victoriabank to strengthen its position as the leading SME bank and a key pillar of the local economy, fostering the sustainable growth and development of MSMEs.  

“Victoriabank has been a key partner in our efforts to support the Moldovan economy, particularly in the MSME sector,” said Andrea Hagmann, Chairperson of EFSE’s Board of Directors “This new financing will allow the Bank to step up its growth ambitions and also ensure that MSMEs across the country receive the needed funding to prosper.” 

"We are proud to continue our successful partnership with EFSE by signing this second financing agreement. Having effectively utilized the first round of funding, this additional EUR 15 million will allow us to further support the growth of Moldovan MSMEs as they navigate the current economic challenges. At Victoriabank, we are committed to fostering the resilience and competitiveness of the business community and driving the country’s sustainable economic growth", added Levon Khanikyan, CEO of Victoriabank

 

About EFSE 

An impact investment fund established in 2005, the European Fund for Southeast Europe (EFSE) aims to foster economic development and prosperity in Southeast Europe and the European Eastern Neighborhood Region. EFSE was initiated by KfW Development Bank with the financial support of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission. As the first public-private partnership of its kind, EFSE draws its capital from donor agencies, international financial institutions, and private institutional investors. Finance in Motion GmbH, Germany, serves as EFSE’s advisor and Hauck & Aufhäuser Fund Services S.A., Luxembourg, acts as manager.  

For more information on the European Fund for Southeast Europe, please visit: www.efse.lu   

About Finance in Motion 

Finance in Motion is a global impact asset manager focused exclusively on sustainable development in emerging markets and developing economies. The company structures, manages, and advises impact investment funds that bring together public and private investors to address climate change, strengthen biodiversity conservation, foster the sustainable use of natural resources, improve livelihoods, and promote economic opportunities.  
For more information, please visit: www.finance-in-motion-com    

About Victoriabank 

With 35 years of experience in the Moldovan market, Victoriabank is one of the most solid banks in the country. We are an innovative Moldovan brand known for introducing the first bank card, the first ATM, the first mobile application, and the first loan for small entrepreneurs. Since 2018, we have been part of the largest financial group in Romania—Banca Transilvania

Victoriabank is actively involved in supporting business development in the country, particularly by assisting SMEs through banking products and services designed to help companies become more competitive and seize new export opportunities. As a leader in banking innovation, we offer our customers access to 100% online services, including account opening, KYC updates, loan applications, and fast T2A transfers. With a customer base of over 310,000, the Victoriabank network includes 68 branches and over 250 ATMs. 

For more information about Victoriabank and details about the products and services we offer, please visit our official website. 

Media Contacts: 
 
EFSE:Nusha Westhoff 
Director Marketing & Communications 
Mobile: +49 69 271 035-789 
press@ggf.lu / press@efse.lu 

Victoriabank:  
Mihaela Baciu  
PR & Communications  
​Email: pr@vb.md  
​Phone: 030303305; +373 68 289 214 

Get in touch

Interested in learning more about how the fund works, or seeking partnership opportunities? Contact an EFSE representative today.

Contact