EBRD, EU and partner bank maib support expansion of Moldovan wine tourism complex

This article is brought to you in association with EBRD.

• EBRD, EU and Moldovan partner bank maib team up on winery investment in Moldova 
• Castel Mimi to benefit from MDL 25 million loan for wellness centre at winery hotel 
• EBRD to take half the risk of the maib loan

The European Bank for Reconstruction and Development (EBRD) and European Union (EU) has teamed up with Moldovan partner bank maib to support the expansion of Castel Mimi SRL, an award-winning winery, through the construction of a wellness centre as part of its existing wine resort centred on a restored chateau, run as a zero-emissions hotel and surrounded by 74 hectares of vineyards.

While maib lends the winery MDL 25 million (the equivalent of €1.24 million) to build the wellness centre in a two-floor building on the chateau premises, the EBRD will take on half the risk of the loan.

The EU will provide up to €327,000 grant under the FINTECC programme, to support the Castel Mimi wine tourism complex, backing a first mover in Moldova’s hospitality sector in implementing comprehensive environmental practices. The incentive is provided under the EBRD’s Finance and Technology Transfer Centre for Climate Change (FINTECC), supported by the EU under its EU4Climate initiative.

Moldova has a long history of wine production and ranks first in the world in terms of vineyard per head, with four hectares of vineyard per 100 people. Moldovan wine has gained international attention in recent years and the country is now the 14th largest wine producer in the world.

“This investment exemplifies the Bank’s commitment to supporting sustainable economy and development, achieved through heritage-led growth. Castel Mimi proves that with the right vision and strategic backing, history and modernity can successfully coexist, and flourish,” said the EBRD’s Managing Director for Ukraine and Moldova, Arvid Tuerkner, at the signing.

“Investing in innovative climate technologies will improve energy efficiency, increase economic and climate resilience of Moldova and create new green jobs. It is especially crucial for the businesses like Castel Mimi. The European Union is happy to support the pioneers in the field that are setting the bar high for the whole sector. With the Growth Plan worth €1.9 billion, we are investing in the green transition and economic competitiveness of Moldova, providing drivers for sustainable growth,” said Jānis Mažeiks, Ambassador of the European Union to the Republic of Moldova.

“Maib team actively supports businesses in the Republic of Moldova through modern financial solutions designed to create long-term value – for the economy, communities, and the environment. Our partnership with Castel Mimi reflects our trust in local potential and our commitment to preserving cultural heritage. Investments in infrastructure and advanced ecological practices are concrete steps toward a sustainable future – one we are building together. We thank the EBRD team for their valuable partnership and wish Castel Mimi continued success and many more remarkable projects to come”, mentioned Andrii Glevatskyi, Deputy Chairman of the maib Management Board, responsible for Business Banking Division.   

“At Castel Mimi, we invest in sustainability with a focus on the future. We’re grateful to the EU, EBRD and maib for supporting projects like ours, and we hope our example will inspire others across Moldova and the region,” said Adrian Trofim, Chief Executive Officer of Castel Mimi.

Castel Mimi, a family business, is owned by Iurie Trofim, who has transformed the former state-owned Agrovin Bulboaca winery into one of Moldova’s most iconic landmarks. The winery now offers locally produced wines, on-site accommodation in a zero-emissions hotel, and hosts cultural events, contributing to the development of regional tourism, while supporting sustainable, climate-positive practices.

Maib, Moldova’s largest bank with a more than 30 per cent market share in the country, is a longstanding EBRD client, partnering since 1995. Since 2018, maib’s largest minority shareholder has been a consortium of investors composed of the European Bank for Reconstruction and Development, Invalda INVL, an asset management group in the Baltics, and Horizon Capital, an Emerging Europe-focused private equity fund manager.   

The European Union has played a central role in providing the necessary financial assistance to strengthen Moldova’s resilience over the past years and has offered targeted support. Since 2021, the EU has strongly reaffirmed its solidarity with Moldova by making available €2.2 billion in loans and non-repayable support. Funding has been channelled through multiple instruments, such as direct budget support under NDICI, macro-financial assistance, participation in EU programmes, blending and guarantees.

The new €1.9 billion EU support package called EU Moldova Growth Plan will boost Moldova’s economy, will bring the country closer to the EU membership, and will provide significant financial assistance. The Moldova Growth Plan will support Moldova’s socio-economic and fundamental reforms, will enhance the country’s access to the European Union’s Single Market and will increase financial assistance over the next three years through a dedicated Reform and Growth Facility, based on the Reform Agenda.

The EBRD has worked in Moldova for three decades, investing more than €2.6 billion in 183 projects to date.