Mechanism of compensating interests on loans accessed by small-, medium-sized enterprises presented in Moldova

Chisinau, 22 November /MOLDPRES/ - The mechanism of partial compensation of the interests on the loans accessed by small and medium-sized enterprises (SMEs) on investment purpose was unveiled by the Economics Ministry and the Organization for Entrepreneurship Development (ODA) at a news conference today.    
Thus, SMEs can submit applications to ODA for the compensation of the interests on investment loans, borrowed till 1 August 2022 from banks, Non-Bank Crediting Organizations or Savings and Loan Associations (SLA).    
“We go through an uncertain period and these complications have repercussions on the economy and especially on the business environment. Therefore, we come to the assistance of entrepreneurs, who face increasing costs for bank loans, with a mechanism of compensation of interests on investment loans. The entrepreneurs should know that the state is on their side and protect them. It is about an online instrument; the procedure of registration lasts several minutes and the answer from ODA comes in a period of ten days,’’ Economics Minister Dumitru Alaiba said.     
According to ODA’s director Dumitru Pintea, the applications for compensations can be submitted online on the webpage www.compensatii.oda.md till 28 February 2023. ODA will compensate two percentage points from the interest related to the loans for the period August-December 2022 and the cumulative sum will not exceed 300,000 lei per one economic agent. As much as 200 million lei (about ten million euros) is allocated from the state budget for this.   
Beneficiaries of the compensation can be the classified companies in the conditions of the law on small- and medium-sized enterprises, which hold an investment loan with active balance at the situation from 1 August 2022, borrowed for a period of at least 24 months and which is classified in the Standard or Supervised risk category. Moreover, the commissions and payments collected by the creditor for considering the file, of providing, servicing the loan, for anticipated payment, penalties, delay interests, as well as other payments but the interest do not represent object of compensation. The payment of the compensation will be made monthly, on the next month after the acceptance of the application and approval of the status of beneficiary.