EFSE loans additional EUR 2 million to BT Leasing to expand access to financing for Moldovan entrepreneurs
Luxembourg and Chişinău, 4 August 2020 – The European Fund for Southeast Europe (EFSE) has provided a top-up loan of EUR 2 million to its partner BT Leasing to expand financing opportunities for micro and small enterprises (MSEs) in Moldova. The investment particularly aims to bolster the ability of MSEs to continue operations in an environment made difficult by the COVID-19 crisis.
BT Leasing is Moldova’s foremost provider in the leasing sector. With a proven commitment to serving MSEs across the country, BT Leasing has been a strategic partner for EFSE since 2018, supporting the fund in its mission to promote economic development and employment generation by enhancing the ability of local businesses to access the financing they need to maintain and grow their operations. The strengthened collaboration will facilitate new long-term leasing contracts for MSEs, helping this important business segment to continue accessing needed financing during a time when entrepreneurs are especially hard-hit by the economic ramifications of the COVID-19 outbreak.
EFSE Board Chairperson Christoph Tiskens said: “Leasing is an important source of financing for many small business owners. It opens up access to long-term investment in fixed assets without demanding the large amounts of collateral often unavailable to MSEs. We are glad to be continuing our successful partnership with BT Leasing in creating tailored financing opportunities for the hardworking entrepreneurs of Moldova.”
Marius Craciunas, CEO of BT Leasing, commented: “We at BT Leasing are firmly committed to supporting the ability of micro and small enterprises to thrive and continue to grow during the post-pandemic period, thus sustaining jobs and prosperity in the country. EFSE shares this dedication, and together, we are determined to continue serving as a strong and reliable financial resource to this valuable segment of the economy, including in challenging times like these.”
One of the largest development finance funds worldwide, the European Fund for Southeast Europe (EFSE) aims to foster economic development and prosperity in Southeast Europe and the Eastern Neighbourhood Region by investing in the success of micro and small enterprises as well as improved living conditions for private households. As access to financial services is key to developing this segment, EFSE focuses on helping local financial sectors strengthen their ability to provide responsible financing for this target group. Alongside its investment activities through local partners, EFSE multiplies its impact through the EFSE Development Facility, which provides technical assistance, training, and other nonfinancial support to entrepreneurs and institutions.
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
For more information on Finance in Motion, please visit: www.finance-in-motion.com
About BT Leasing
BT Leasing, a subsidiary of Banca Transilvania Financial Group, is one of Romania’s top leasing companies and is held entirely by Banca Transilvania, the second largest bank in Romania in terms of assets. BT Leasing’s mission is to offer an alternative to loans through services that support the client’s activity. In over 20 years of activity, BT Leasing has supported over 10,000 clients and has signed more than 20,000 contracts.
For more information, please visit: www.btleasing.md
Media contact EFSE
Senior Officer, Marketing & Communications
Phone: +49 (0)69 271 035-470
Media contact BT Leasing
Communication & PR Deputy Director
Phone: + 40 724 567 364