Thousands of entrepreneurs from Moldova benefit from financing with support of international organizations, development partners

Thousands of entrepreneurs from Moldova have benefited from financing, consultancy and training programmes with the support of international organizations and development partners of the country. The results achieved in this respect were unveiled at a meeting of development partners, held in Chisinau.

The meeting’s agenda included presentations and discussions focused on the assessment of the present framework of cooperation and defining the strategic directions for the future. Attending the event were representatives of the Delegation of the European Union, the German Development Bank (KfW), German Agency for International Cooperation (GIZ), Polish Development Bank, Japanese International Cooperation Agency (JICA), Unit of Implementation of the World Bank’s Competitiveness Enhancement Project.

„Due to the support provided by the international organizations and development partners, thousands of entrepreneurs and small- and medium-sized enterprises (SMEs) benefited from financing, consultancy and training programmes, thus consolidating the competitiveness and resilience of the business environment from our country. Through these strategic partnerships, we consolidate the business environment, facilitate the access to financing for SMEs and back the digitalization and green transition. We commit to continue this cooperation, to develop new mechanisms of support and to turn challenges into opportunities. We thank for the continuous support and for the confidence in the economic future of Moldova,’’ Deputy PM Dumitru Alaiba said.

The director of the Organization for Entrepreneurship Development (ODA), Vadim Codreanu, said that each initiative backed and each resource invested in the entrepreneurship of Moldova contributed to the building of a stronger economy.

The representatives of the development partners showed openness and commitment for strengthening the bilateral and multilateral relations. They stressed the importance of a continuous and efficient cooperation for achieving the common goals, the Economic Development and Digitalization Ministry (MDED) informed in a press release.

ODA benefits from substantial financial support on behalf of the European Union, due to an agreement on grant of 8 million euros, signed in May 2023, within the EU for SMEs project.

In March 2024, the Financial Agreement for the implementation of the project, Facility of Development of SMEs in Moldova, was signed. The document envisages a financial contribution of 10.7 million euros (non-refundable assistance) on behalf of the government of Germany, through the German Federal Ministry for Economic Cooperation and Development and the German Development Bank (KfW).

Also, in the last five years, ODA has benefited from significant support of GIZ Moldova. An example is the agreement for the Facility of SMEs’ Digitalization, which brought a financial support of about 200,000 euros, as well as the support in the implementation of the Programme on support of small producers with a budget of 160,000 euros.