Press releases

5 November 2024,Chireen — The Ministry of Economic Development and Digitalisation and the Organisation for the Development of Entrepreneurship have signed the Project Implementation Agreement for Moldova’s SME Development Facility.

The document complements the Grant and Project Agreement signed on 11 March 2024 between KfW, MDED and ODA, whereby the Republic of Moldova will receive a non-repayable grant of up to EUR 10.7 million from the Government of the Federal Republic of Germany (German Federal Ministry for Economic Cooperation and Development) through the German Development Bank (KfW) aimed at developing the local business environment.

Thus, according to the agreement, the funds are allocated to two strategic directions. The EUR 10 million grant is exclusively intended for the Entrepreneurship and Economic Growth Fund of Moldova (face), managed by ODA, to support the re-crediting of Part Finance Entities (EFP), which will provide investment loans to small and medium-sized enterprises.

The grant of up to EUR 700 thousand is earmarked for consultancy services aimed at supporting ODA in the efficient implementation of the project and providing the necessary support for participating VET.

“The economy needs financial resources to grow. And we’re exactly doing. We offer access to cheap, predictable financial resources for our entrepreneurs to invest, grow and create new jobs that are well paid here at home. With this programme, entrepreneurs will expand their business, to crosse their capacity, to be more productive and competitive. Thank the German Development Bank for support,” said Dumitru Alaiba, Vice-President and Minister for Economic Development and Digitalisation.

‘ODA is committed to implementing one of the most valuable and ambitious projects for entrepreneurship development in Moldova. The new SME development facility will provide small and medium-sized enterprises with access to financial resources, supporting them in expansion and consolidation. It is an important step in supporting the national economy and the stability of the entrepreneurial field,” mentioned Vadim Codreanu, Director ODA.

We would point out that the project “Facility for the Development of SMEs in Moldova” will launch a new SME lending product aimed at supporting their expansion and consolidation, providing access to financial resources and new development opportunities.

The project “Facility for the Development of Moldovan SMEs” is part of a broader commitment to strengthen the national economy by supporting SMEs, essential pillars for Moldova’s economic progress and stability.