Victoriabank and the European Fund for Southeast Europe (EFSE) are further strengthening their strategic partnership through a new subordinated loan of EUR 10 million equivalent in Moldovan leu. The long-term, local currency financing will boost Victoriabank’s capitalization, enabling it to grow its support for micro, small, and medium enterprises (MSMEs). Through this facility, MSMEs will gain additional access to funding for modernization and innovation, directly supporting the local business environment and job creation in the Republic of Moldova.
“This subordinated loan brings significant investment to the Republic of Moldova at a time when the economy and local businesses need support the most. Its extended maturity of 10 years is a sign of confidence and helps strengthen Victoriabank’s capital base. In this way, we continue to be a reliable partner for SMEs, providing them with the resources they need to grow and develop sustainably,” said Levon Khanikyan, CEO of Victoriabank.
"This loan investment reflects EFSE’s commitment to fostering long-term financial resilience in Moldova. By providing subordinated debt in local currency with a ten-year tenor, we are not only strengthening Victoriabank’s capital position but also enabling more stable and accessible financing for local entrepreneurs. Supporting MSMEs in their growth journey is at the heart of our mission," said Oxana Binzaru, Regional Director at Finance in Motion.
Currently, one in five MSME loans in Victoriabank’s portfolio is financed through EFSE resources, highlighting the direct impact of this partnership on the local economy. The collaboration between Victoriabank and EFSE is built on trust and shared goals, and this new facility further reinforces that relationship, delivering tangible benefits for Moldovan entrepreneurs.
About Victoriabank
With a 35-year history, Victoriabank is the third-largest bank in the Republic of Moldova, holding a market share of over 16% and total assets exceeding MDL 30 billion. With majority shareholders Banca Transilvania and the European Bank for Reconstruction and Development (EBRD), Victoriabank is committed to supporting the local economy, fostering innovation, and promoting sustainable growth. The bank operates a network of 65 branches and employs more than 1,200 people, serving nearly 360,000 customers with secure, modern, and customer-oriented financial solutions.
About EFSE
The European Fund for Southeast Europe (EFSE) is an impact investment fund to drive economic development and prosperity in Southeast Europe and the Caucasus. Through its two sub-funds—the Regional Sub-Fund (RSF) and the Ukraine Sub-Fund (USF)—EFSE provides tailored financial solutions to foster entrepreneurship, strengthen financial inclusion, and support local economies. EFSE was initiated in 2005 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 Portfolio Manager and Hauck & Aufhäuser Fund Services S.A., Luxembourg, acts as Manager.
About Finance in Motion
Finance in Motion structures, manages, and advises almost €4 billion across 10 funds, all classified as SFDR Article 9. These private market funds drive impact for people and planet through regional financial intermediaries, direct investments, advisory and capacity building. Founded in Germany, with local expertise from Latin America to Eastern Europe, it has been investing in emerging markets for over 20 years.