Getting the finance to start or develop any small or medium-sized enterprise can be tough at the best of times. In Moldova, it can be especially hard. But are things changing?
Business Planet visited Soroca, in the north of the country, to see how farms are benefiting from a special European initiative.
AMG Kernel is Europe's biggest walnut farm. It covers 750 hectares and exports nearly 80 percent of its harvest. Most of that goes to Europe. But while big, like many farms in Moldova, it wanted to modernise.
Thanks to an initiative called the 'Fruit Garden of Moldova’ project, the farm secured a €2.5m loan from Mobiasbanca.
Victor Gutu, AMG Kernel’s director, said the finance was crucial for the business: “This EU financed project enabled us to start constructing a walnut processing plant. As a result, we've become more competitive when it comes to selling our products in European markets.'