MF signs agreement worth 30m euros with BERZH

The Finance Ministry has signed agreements with the European Bank for Reconstruction, worth 30m euros. The agreement is signed for the “Kredia project of the urgency of the vital infrastructure”.

“Credia is destined for Central and Local Public Enterprises. The loan will help public companies pass the pandemic period as easily as possible, considering that most of them have suffered a decline in revenues of up to 50% as a result of pandemic. As the country continues to face the consequences of COVID-19, through this support, the European Bank for Reconstruction and Development ( The EBRD will provide the delivery of essential infrastructure services. During this period many vital infrastructure providers have suffered a temporary lack of revenues. These financial difficulties created by the pandemic are designed to be addressed through this support from the EBRD”, the MF says.

The first tranche of up to 14m euros will provide the Government for borrowing vital infrastructure providers for immediate emergency support. Until, the second tranche of up to 16m euros will be used for further financing and support to improve the collection of vital infrastructure services providers, as stated by the MF.

“Support for vital infrastructure during the COVID-19 pandemic is one of the main components of the EURZ response to the pandemic crisis. In response to this created situation, at a global level, the Bank has approved a Solidarity Package worth 21 billion euros in 2020-21 to combat the economic impact of COVID-19”, the report said.