Moldova’s biggest poultry producer just got a major boost. The European Bank for Reconstruction and Development (EBRD) and local bank MAIB have put together a €9 million deal to help Axedum grow its business, according to the banks statement. EBRD will take on half the risk while maib handles the lending. The money will go toward building a new feed mill and getting into egg production.
Axedum started as a family business back in 1997 and worked its way up to become Moldova’s top poultry company. Now they want to branch out and sell to European markets, something that got easier since Moldova became an EU candidate country.
The deal comes with extra perks from the European Union through EBRD’s climate program. Axedum will get help upgrading their equipment with greener technology that cuts emissions and wastes less. This isn’t their first rodeo with EBRD either – the bank has helped them with everything from cutting costs to finding new customers over the years.
Maib owns more than a third of Moldova’s banking market and has worked with EBRD since 1995. A group that includes EBRD, Baltic investment firm Invalda INVL, and private equity player Horizon Capital bought into the bank in 2018.
EBRD has been doing business in Moldova for three decades now. They’ve put over €2.6 billion into 183 projects across the country, and this latest deal shows they’re not slowing down anytime soon.
