Press releases

Chisinau, 15 May 2024 — The Ministry of Economic Development and Digitalisation of the Republic of Moldova, together with the German Development Bank (KfW) and the Organisation for the Development of Entrepreneurship (ODA), set out the essential provisions for the implementation of the Financial Agreement on facilitating the development of SMEs, signed on 5 March today.

The Implementation Agreement, signed today, details the management of the EUR 10.7 million grant provided by the Government of the Federal Republic of Germany (German Federal Ministry for Economic Cooperation and Development) through the German Development Bank (KfW). It covers key technical aspects such as: management of funds, principles for financing small and medium-sized enterprises, ODA obligations and responsibilities in project implementation.

It also sets out key operational aspects to ensure access to finance for small and medium-sized enterprises, with particular attention to those managed by women.

The Deputy Prime Minister, Minister for Economic Development and Digitalisation Dumitru Alaiba underlined the productive collaboration between the governments of the two states through projects carried out in the context of German development cooperation.

‘The Federal Republic of Germany has always been a reliable partner of the Republic of Moldova, including in the process of integrating our country into the EU. We are grateful for this non-repayable financial support that will enable us to build a stronger and more prosperous economy for the benefit of all citizens of the Republic of Moldova“”, said Dumitru Alaiba, Minister for Economic Development and Digitalisation.

In turn, the head of the Sustainable Economic Development and Education Department, the German Development Bank, Hille Henebry highlighted the role and importance of signing the implementation agreement in boosting the development of the Moldovan economy.

‘The German Development Bank is pleased to take this important step for the project, i.e. the signature of the Implementation Agreement. We look forward to starting project implementation and thus boosting financing for small and medium-sized enterprises, investment and job creation in Moldova”, mentioned Hille Henebry.

Finally, Vadim Codreanu, Director ODA, submitted sincere satisfaction to the Government of the Federal Republic of Germany (the German Federal Ministry for Economic Co-operation and Development) and the German Development Bank (KfW) for continued support and special collaboration.

‘We express our sincere gratitude to the Government of the Federal Republic of Germany and the German Development Bank for continued support and valuable partnership. We commit to implementing the ones set out in this agreement so that entrepreneurs receive support and assistance in the development of their businesses as soon as possible”, said Vadim Codreanu.

I would recall that, on 5 March 2024, the Financial Agreement on the implementation of the project “The SME Development Facility of the Republic of Moldova” was signed, which provides for a financial contribution from the Government of the Federal Republic of Germany (German Federal Ministry for Economic Cooperation and Development) through KfW amounting to EUR 10.7 million (non-repayable assistance).

The financial resources will be used to improve access to finance for SMEs, in particular through the exclusive refinancing of investment loans to them, through we, managed by ODA.