Over 100 entrepreneurs receive grants

Prime Minister Dorin Recean participated in an event dedicated to Entrepreneur's Day, which brought together over 300 entrepreneurs from across the country. 105 entrepreneurs were awarded grants from the Organization for Entrepreneurship Development (ODA).

The official appreciated the work and courage of the entrepreneurs in building profitable businesses at home, noting that the Government, through ODA will continue to provide them with concrete support tools.

"On Entrepreneur's Day, we celebrate the businesspeople who chose to build, innovate, and invest here at home. From small ideas, we have reached companies that inspire, make us proud, and contribute to the country's economic development. All we need to do is focus on competitiveness and be ready to seize these opportunities, including access to European markets. We are reliable partners, and only together can we build a modern and developed economy,” stated Recean.

The event began with the signing of funding agreements worth 20 million euros for Phase II of Moldova SME Development Facility project. The funds, provided by the German Government through the German Development Bank (KfW) will be used to improve SMEs' access to finance.

Additionally, the financial product FACEM Impact, developed in the first phase of the project intended to support entrepreneurs, especially in value-added activities, was launched. It offers long-term investment loans with a fixed rate and accessible conditions for business digitalization and development.

Furthermore, the Local Supplier Development Program was presented, implemented with the support of the World Bank Group, aimed at assisting up to 60 SMEs in Moldova with export potential.

In Moldova, over 63,000 small and medium enterprises operate, employing over 350,000 people, which represents over 65% of the total number of employees in enterprises.

In the last two years, 8,300 entrepreneurs have been supported through programs managed by ODA. State funding for small and medium businesses has increased more than six-fold, from 200 million to 1.3 billion lei.