Over 200 companies of Moldova to benefit from grants through new program supported by World Bank

Chisinau, July 11. /MOLDPRES/- Over 200 companies of Moldova will benefit from non-refundable financing offered under the Micro, Small and Medium Enterprise Competitiveness Project, supported by the World Bank. It has a budget of 50 million dollars and will be implemented in 2023-2027.

From the total budget of the Project, through the Co-financing Mechanism for improving export competitiveness, implemented by the Entrepreneurship Development Organization (ODA), non-refundable financial support is to be granted to cover 50% of the cost of services and equipment, but no more than 600 thousand lei (30 thousand euros) per beneficiary. The Ministry of Economic Development and Digitalization (MDED) said that from the support, economic agents will be able to increase the quality of their products and services, launch new ones, optimize internal processes, improve the corporate image, identify new customers and markets, and establish partnerships within value chains.

Deputy Prime Minister Dumitru Alaiba, Minister of Economic Development and Digitalization said that the financing offered by the World Bank is a good tool to increase the quality and competitiveness of enterprises. 

World Bank Country Manager for Moldova Inguna Dobraja said that the new project serves as an important tool to increase the competitiveness of the economy by strengthening SMEs, create jobs, increase the quality of their products and services, access international markets and facilitate investment.

According to Dumitru Pîntea, ODA director, export-oriented or already exporting companies will be able to apply for co-financing. Grants will be awarded for the purchase of business development services and the increase of export capacity, and for the purchase of modern equipment.

Photo: MDED