Press releases
The Technical Assistance Agreement between ODA and the Frankfurt School of Finance & Management, as part of the project “Macility for the Development of SMEs in Moldova”, funded by the Government of Germany and managed through KfW, was signed
2 December 2024, Chisinau — The organisation for the development of entrepreneurship and the representation of German company Frankfurt School of Finance & Management signed the Technical Assistance Agreement.
The agreement, worth up to EUR 700 thousand in the form of technical assistance, aims at increasing the institutional expertise of the Organisation for the Development of Entrepreneurship in the implementation of the project “Macility for the Development of SMEs in Moldova” and providing the necessary support to partner financial institutions.
The act signed today delivers on the commitments made under the Grant and Project Agreement of 11 March 2024, concluded between KfW, the Ministry of Economic Development and Digitalisation and the Organisation for the Development of Entrepreneurship. Under this agreement, the Republic of Moldova benefits from a non-repayable grant of up to EUR 10.7 million granted by the Government of the Federal Republic of Germany through the German Federal Ministry for Economic Cooperation and Development (BMZ) and managed by the German Development Bank (KfW).
According to the March agreement, the funds are allocated to two strategic directions: a EUR 10.0 million grant to re-credit partner financial institutions under the Fund, managed by ODA, to finance SMEs, and the grant expressed in the form of technical assistance of up to EUR 700 thousand signed today.
‘We recognise the support provided by the German Federal Ministry for Economic Cooperation and Development through the German Development Bank (KfW). Today’s initiative provides a valuable opportunity to strengthen ODA institutional capacities, allowing collaboration with international experts to optimise project management and monitoring processes. We are committed to developing modern management tools, applying efficient practices and providing strong support to our beneficiaries“” declared Vadim Codreanu, Director ODA.
‘It is a great pleasure for KfW to see today the next milestone in the implementation of the project “Macility for the Development of SMEs in Moldova”, funded by the German Government and managed through the German Development Bank (KfW), with the launch of the technical assistance component. The implementing consultant is committed with the aim of significantly strengthening the capacities of ODA and partner financial institutions to provide access to finance for disadvantaged SMEs in Moldova. This will boost SME investment, boost job creation in the private sector and support Moldova on its EU integration path.“” said Eva Schlarb, German Development Bank (KfW) portfolio manager.
Through the project “Macility for the Development of Moldovan SMEs”, ODA will launch a new SME lending product focused on expansion and consolidation. The initiative will provide access to finance and support economic growth through the development of the entrepreneurial sector.
We would point out that the project is part of a broader commitment to strengthen the national economy by supporting SMEs, essential pillars for Moldova’s economic progress and stability. Its implementation will take place over three years and has been under the responsibility of the Organisation for the Development of Entrepreneurship, under the coordination and supervision of the Ministry of Economic Development and Digitalisation.
