Press releases

The Credit Guarantee Fund (FGC) managed by the Organisation for the Development of the Small and Medium-sized Enterprises (ODIMM) has reset its partnership relations with three commercial banks in the country.

“Mobiasbanca – OTP Group” S.A., B.C. “Victoriabank” S.A. and “Bank of Finance and Commerce” S.A. signed new collaboration contracts with ODSMEs, approved by the Ministry of Economy and Infrastructure. According to the new amendments, the process of granting and enforcing financial guarantees by ODSMEs to small and medium-sized enterprises, which want to access bank loans and lack sufficient pledge, has been simplified.

The Director General of ODIMM, Yulia Costin, welcomes the partnerships with banking institutions. “Our role is to support small and medium-sized enterprises and to contribute to a thriving business environment in the Republic of Moldova, and working with commercial banks is an important support for SMEs. Involving all responsible actors in business development will help us ensure economic growth.”

We would point out that the ODIMM Credit Guarantee Fund is in the process of resetting cooperation with all partners in the banking sector, as a result of the continuous improvement of the processes for issuing, monitoring and enforcing financial guarantees. At the same time, following the recognition by the National Bank of Moldova of the guarantees issued by the ODIMM as a credit risk mitigator, the ODIMM guarantee becomes more attractive for banks and more accessible for SMUs.

The FGC is the only credit guarantee fund in the Republic of Moldova tasked with ensuring access to finance for domestic companies by issuing financial guarantees.

To date, 416 financial guarantees amounting to RON 156.3 million have been granted through the FGC, facilitating the granting of loans amounting to RON 461.1 million and generating investments in the economy totalling RON 678.7 million.