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Moldova gives boost to microlending

Microfinancing, an increasingly popular lending venue in mainly rural Moldova, recently got a boost when the country’s financial regulator CNPF unveiled plans for the expansion of the combined credit portfolio of the microfinance organisations to 2.0 billion lei (131.2 million euro) by 2014 from 1.4 billion lei in 2009.
The plans are part of a broader strategy for the development of the financial market of the ex-Soviet country considered one of the poorest in Europe with GDP-per-capita of 23,083 lei in 2011, according to data from Moldova’s national statistics board.