As of today, entrepreneurs can apply for investment loans of up to 15 million lei from commercial banks-partners of the governmental "373" Programme. The announcement was made by Deputy Prime Minister Dumitru Alaiba, Minister of Economic Development and Digitisation, and Dumitru Pîntea, Director of the Entrepreneurship Development Organisation (ODA), at a press conference.

The low-interest investment loans, partly supported by the state through the ODA, will be available at one of the 11 commercial banks in Moldova.

Deputy Prime Minister Dumitru Alaiba stressed that the "373" programme is of great importance for the national economy. "Our priority is to grow the economy. In this regard, the SME sector is vital, and the "373" programme is here to help the business environment to develop, create new jobs and to be able to exploit their products and services on new markets".

The government initiative will provide entrepreneurs with easier access to finance and support for business development, said ODA Director Dumitru Pîntea.

"The objective of the "373" programme is to revitalise the activity of MSMEs in the current economic context by providing investment loans by Partner Financial Institutions (PFIs) and partial interest rate compensation by the Government through the Fund for Entrepreneurship and Economic Growth of Moldova (FACEM). The interest rate on loans in foreign currency will be 3% per year, and in lei - 7% per year. Investment loans can be contracted by MSEs for a term of up to 7 years, with a grace period of up to 3 years," Dumitru Pîntea said.

The "373" programme also provides for the guarantee of up to 40% of the loan amount, where applicable, through the Credit Guarantee Fund (FGC) in the ODA portfolio. 

The maximum loan amount can be up to 15 million lei, with an own contribution of only 10% of the investment project value. Economic agents, wishing to access investment loans for business development with state-compensated interest, must submit a loan application, accompanied by a set of documents to the Partner Financial Institution. Subsequently, the bank examines the application and decides to grant the credit, signing a credit contract. In case of lack or insufficiency of collateral, the bank signs a pledge contract with the company and the ODA signs a guarantee contract. After accessing the investment loan, the MFI ensures repayment of the loan and payment of interest to the bank of only 7% in lei and/or 3% in foreign currency, and the ODA - payment of interest compensated by transferring it to the bank.

The financing of the credit interest compensation activity will be carried out from the account and within the limits of the allocations established in the state budget for the respective year, as well as from the external financial assistance account. In the current year, financial resources amounting to about 250 million lei have been provided for the implementation of the "373" Investment Stimulation Programme.

https://373.gov.md/