Entrepreneurs to have access to smaller loans, through Moldova's Fund for Entrepreneurship and Economic Growth
18:48 | 09.11.2022 Category: Official
Chisinau, 9 November /MOLDPRES/ - Moldova’s Fund for Entrepreneurship and Economic Growth (FACEM) will be supported by the state and will give enterprises of Moldova access to loans in preferential conditions, by at least 30 per cent lower than those practiced on the present credit market, the government’s communication and protocol department has reported.
FACEM will be managed by the Public Institution Organization for Entrepreneurship Development (ODA), which will elaborate, develop and approve the products of financing and the instructions needed for the correct, transparent and efficient management of money. The financing products of FACEM will be worked out in line with the priorities of the public policies established by the government, Economics Ministry and other relevant state institutions. Also, they will take into account the conditions established in the agreements with the development partners and donors.
The enterprises, including the ones from the category of small- and medium-sized enterprises (SMEs), will be able to access the products of financing through banks or non-bank credit organizations, which concluded a cooperation contract with ODA.
The financial resources, available in Moldova’s Fund for Entrepreneurship and Economic Growth, will come from state budget allocations, financial means of development partners and donors, incomes got from crediting or re-crediting or other legal sources.
Financial sources worth 70 million lei were budgeted for the Fund’s capitalization for 2022. During the next years, additional capitalization amounting to 2.7 billion lei (2023 year – 450 million lei; 2024 – 1 billion lei and 2025 – 1,320 million lei) is scheduled.