Small and medium enterprises in the Republic of Moldova will be able to benefit from affordable financing for the implementation of investment projects under the 373 Program, approved by the government on June 7, the government’s communication and protocol department has reported.
The program sees the granting of investment loans by banks, with the partial compensation of the interest rate by the state and the guarantee of the loans with financial guarantees. Thus, the interest rate on loans in foreign currency is 3% and in lei – 7%. For loans with a maturity of up to 7 years, the maximum grace period is 3 years. The interest rate difference will be covered through the Organization for Entrepreneurship Development (ODA).
Funding the activities set out in 373 Program will be carried out through the Fund for Entrepreneurship and Economic Growth of Moldova (FACEM). This will be done within the limits of the state budget and through external financial assistance.
“Our priority is to improve the economy. In this context, the SME sector is a vital one, and the 373 Program is a significant help for the business environment to develop and create new jobs”, Deputy Prime Minister, Minister of Economic Development and Digitalization Dumitru Alaiba said.
The project sees the possibility to grant a guarantee from the Loan Guarantee Fund, but which will not exceed 40% of the amount of the requested loan. The financial resources available for the implementation of the 373 Program amount to 255.7 million lei. (Moldpres/Business World Magazine)