Press releases
ODIMM announces new facilities for accessing financial guarantees
The business environment in the Republic of Moldova can benefit from free financial guarantees provided by the Credit Guarantee Fund (FGC) to access credit from commercial banks. Entrepreneurs can access loans from 10 banking institutions, ODSME partners, with no fee for the first year of guarantee. At the same time, the maximum guarantee share for all products dedicated to active companies will be 80 per cent of the amount of credit taken out. The new facilities enter into force on 15 February and will be active until 31 December 2022.
‘In order to revitalise the activity of MSMEs in the current economic context, the conditions for guaranteeing the ‘anti-crisis’ product have been extended. These provisions will apply to all active products of the FGC. The Guarantee Capacity of the Fund allows us to cover a portfolio of guarantees up to RON 1 billion for 2022, which will bring about investments in the economy of around RON 2.5 billion’supports Dumitru Pîntea, ODIMM Acting Director.
In year 2021the volume of requests from economic operators for the granting of State guarantees was 5 times higher than in 2020, indicating the attractiveness and necessity of this instrument in the credit market. Thus, throughout 2021, ODIMM issued 468 financial guarantees new in the amount of RON 388 millionwhich made it possible to disburse appropriations amounting to RON 993 millionand the amount of investment projects related to these transactions is approximately RON 1.1 billion.
FGC it is an entrepreneurial support instrument, created and managed by the MSMEs, whose mission is to issue financial guarantees guaranteeing loans requested by MFIs from partner financial institutions. Active guarantee products cover up to 80 % of the amount of credit claimed, and the value of guarantees ranges from RON 500 thousand for start-up companies to RON 7 million for exporting companies. A lion granted in the form of a financial guarantee facilitates access to RON 2,6 in the form of a loan and generates investments in the economy of RON 3,3.