Press releases
Advantages of state financial guarantees in the SME lending process, topic for discussion at “Made in Moldova”
Today, 3 February, the Organisation for the Development of Small and Medium-sized Enterprises (ODIMM) organised the Workshop “Advantages of State Financial Guarantees in the SME Loan Process”, in the framework of the National Exhibition “Made in Moldova”. The event aimed to raise awareness among the general public of the contribution and impact of state financial guarantees issued through the Credit Guarantee Fund (FGC) in accessing financial resources by the small and medium-sized enterprise sector.
Present at the event, Iulia Costin, State Secretary General of the Ministry of Economy and Infrastructure, stressed that "Facilitating access to finance for entrepreneurs through the development of effective financial instruments is one of the priorities of the Ministry of Economy and Infrastructure. The Credit Guarantee Fund is one of these instruments that enables entrepreneurs to achieve their intended objectives in starting and developing businesses”.
Acting Director General of ODIMM, Petru Gurgurov mentioned that “The Credit Guarantee Fund was designed as a financial instrument based on the investment needs of entrepreneurs, who encounter difficulties in accessing credit due to lack of pledge.”
“The FGC guarantees up to 50 or 70 per cent of the credits accessed by start-ups, companies with more than one year of activity, exporting companies, companies run by young entrepreneurs aged 18-35 and companies run by women. The latest changes in the work of the FGC were made by ODIMM with the aim of improving access to state guarantees ", mentioned Vladislav Mantaluța, Head of the ODIMM Credit Guarantee Fund. 
To date, financial guarantees amounting to approximately RON 81 million have been granted with the support of the Credit Guarantee Fund (FGC) to more than 290 companies, which have obtained bank loans amounting to approximately RON 241 million, contributing to the implementation of investment projects with a cumulative value of approximately RON 364 million.
The FGC is the first and only credit guarantee fund in the Republic of Moldova that was created from state budget resources and aims to support SMEs in accessing financial resources. The Credit Guarantee Fund is managed by ODIMM and aims to facilitate access to the resources borrowed for Small and Medium-sized Enterprises. During the activity, ODIMM established collaborations with several commercial banks in the Republic of Moldova, including FinComBank SA, BC Moldova-Agroindbank SA, BC Victoriabank SA, Romanian Commercial Bank Chișinău SA, BC ProCredit Bank SA, BC Comerțbank SA.
