{"id":442150,"date":"2016-05-20T15:10:25","date_gmt":"2016-05-20T15:10:25","guid":{"rendered":"http:\/\/www.moldova.org\/en\/?p=442150"},"modified":"2016-05-20T15:10:25","modified_gmt":"2016-05-20T15:10:25","slug":"ebrdeu-e380-million-program-opened-businesses-moldova-georgia-ukraine","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/ebrdeu-e380-million-program-opened-businesses-moldova-georgia-ukraine\/","title":{"rendered":"EBRD&amp;EU \u20ac380 million program to be opened for businesses in Moldova, Georgia and Ukraine"},"content":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> &lt; 1<\/span> <span class=\"rt-label rt-postfix\">minute<\/span><\/span><p>The European Bank for Reconstruction and Development (EBRD) and the European Union will <a href=\"http:\/\/www.ebrd.com\/news\/2016\/ebrd-and-eu-programme-to-support-free-trade-areas-with-georgia-moldova-ukraine.html\" target=\"_blank\">start a program<\/a> in Moldova, Georgia and Ukraine to help local businesses to fully benefit of the Deep and Comprehensive Free Trade Area (DCFTA).  <\/p>\n<p>The EBRD will provide 380 million euros in form of loans and trade guarantees to local partner banks and other financial institutions for lending to entrepreneurs and businesses from the three countries. In its turn, the European Union will provide 19 million euros for technical assistance, investment incentives and risk-sharing. <\/p>\n<p>The program is a first phase of the planned 1,2 billion euros EBRD&amp;EU program for DCFTA, in which the European Union is expected to make 56,5 million euros available for improvements of product quality and service standards. <\/p>\n<p>Since the program will be conducted through the local banks from Moldova, Georgia and Ukraine, the EBRD and the EU will reportedly start dialogue activities in the direction of policy making for the framework of this agreement. <\/p>\n<p>The EU and the EBRD will have to face various problems in the banking sector of Moldova, especially with its governance, <a href=\"http:\/\/www.moldova.org\/en\/imf-moldova-no-actions-taken-address-bad-governance-banking-sector\/\" target=\"_blank\">as the IMF suggests<\/a>.<\/p>\n<p>The Bank is the largest institutional investor in the three countries and has invested \u20ac1 billion in Moldova, \u20ac2,6 billion in Georgia and \u20ac11,6 billion in Ukraine. The recent reconstruction projects of the Vasile Alecsandri and \u0218tefan cel Mare streets in Chi\u0219in\u0103u, funded by the EBRD, has raised questions among the civil society about the quality of the work, the transparency of the deal and the experience of the contractor employed by the City Council of the Moldovan capital.<\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> &lt; 1<\/span> <span class=\"rt-label rt-postfix\">minute<\/span><\/span>The European Bank for Reconstruction and Development (EBRD) and the European Union will start a program in Moldova, Georgia and Ukraine to help local businesses to fully benefit of the Deep and Comprehensive Free Trade Area (DCFTA). The EBRD will provide 380 million euros in form of loans and trade guarantees to local partner banks [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":441793,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,6],"tags":[],"class_list":["post-442150","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-important-en"],"content_social_share":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> &lt; 1<\/span> <span class=\"rt-label rt-postfix\">minute<\/span><\/span><p>The European Bank for Reconstruction and Development (EBRD) and the European Union will <a href=\"http:\/\/www.ebrd.com\/news\/2016\/ebrd-and-eu-programme-to-support-free-trade-areas-with-georgia-moldova-ukraine.html\" target=\"_blank\">start a program<\/a> in Moldova, Georgia and Ukraine to help local businesses to fully benefit of the Deep and Comprehensive Free Trade Area (DCFTA).  <\/p>\n<p>The EBRD will provide 380 million euros in form of loans and trade guarantees to local partner banks and other financial institutions for lending to entrepreneurs and businesses from the three countries. In its turn, the European Union will provide 19 million euros for technical assistance, investment incentives and risk-sharing. <\/p>\n<p>The program is a first phase of the planned 1,2 billion euros EBRD&amp;EU program for DCFTA, in which the European Union is expected to make 56,5 million euros available for improvements of product quality and service standards. <\/p>\n<p>Since the program will be conducted through the local banks from Moldova, Georgia and Ukraine, the EBRD and the EU will reportedly start dialogue activities in the direction of policy making for the framework of this agreement. <\/p>\n<p>The EU and the EBRD will have to face various problems in the banking sector of Moldova, especially with its governance, <a href=\"http:\/\/www.moldova.org\/en\/imf-moldova-no-actions-taken-address-bad-governance-banking-sector\/\" target=\"_blank\">as the IMF suggests<\/a>.<\/p>\n<p>The Bank is the largest institutional investor in the three countries and has invested \u20ac1 billion in Moldova, \u20ac2,6 billion in Georgia and \u20ac11,6 billion in Ukraine. The recent reconstruction projects of the Vasile Alecsandri and \u0218tefan cel Mare streets in Chi\u0219in\u0103u, funded by the EBRD, has raised questions among the civil society about the quality of the work, the transparency of the deal and the experience of the contractor employed by the City Council of the Moldovan capital.<\/p>\n<div class='heateorSssClear'><\/div><div  class='heateor_sss_sharing_container heateor_sss_horizontal_sharing' data-heateor-sss-href='https:\/\/www.moldova.org\/en\/ebrdeu-e380-million-program-opened-businesses-moldova-georgia-ukraine\/' data-heateor-sss-no-counts=\"1\"><div class='heateor_sss_sharing_title' style=\"font-weight:bold\" ><\/div><div class=\"heateor_sss_sharing_ul\"><a aria-label=\"Facebook\" class=\"heateor_sss_facebook\" href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https%3A%2F%2Fwww.moldova.org%2Fen%2Febrdeu-e380-million-program-opened-businesses-moldova-georgia-ukraine%2F\" title=\"Facebook\" rel=\"nofollow noopener\" 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to be opened for businesses in Moldova, Georgia and Ukraine - Moldova.org<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.moldova.org\/en\/ebrdeu-e380-million-program-opened-businesses-moldova-georgia-ukraine\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Cristi Vlas\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" 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