Press releases

The Credit Guarantee Fund (FGC) managed by the Organisation for the Development of Small and Medium-sized Enterprises (ODIMM) and BC “VICTORIABANK” S.A. have reset their partnership relations.

The two institutions signed a new collaboration agreement, which regulated the process of granting financial guarantees by ODSMEs to small and medium-sized enterprises, which want to access bank loans and lack sufficient pledge.

According to the contractual provisions, the provision of guarantees is implemented in accordance with the Guarantee Facility in order to increase the access of MSMEs to credit.

In this way, BC “VICTORIABANK” S.A. will be able to offer their most up-to-date guarantee products managed by the FGC, benefiting from the most advantageous conditions and a simplified procedure for granting and enforcing them. In this context, ODIMM and VICTORIABANK organised a training seminar to inform the bank’s employees about the new guarantee products offered by the FGC and the simplified conditions for providing financial guarantees.

We would point out that the ODIMM Credit Guarantee Fund is in the process of reconsidering 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.