Economic

Germany will offer the Republic of Moldova financial assistance worth 10.7 million euros for the development of SMEs

Germany will offer our country financial assistance in the amount of 10.7 million euros for the implementation of the "SME Development Facility from the Republic of Moldova" project. According to the Ministry of Economic Development and Digitization, the financial resources will be used to improve access to finance for small and medium-sized enterprises.

The project will be implemented over a period of three years and was entrusted to the Public Institution Organization for the Development of Entrepreneurship (ODA), under the coordination and supervision of the Ministry of Economic Development and Digitalization.

The Minister of Economic Development and Digitalization, Dumitru Alaiba, stated that through this program, entrepreneurs will expand their business, will increase their capacities and will be more productive and competitive.

“That means new jobs and economic development. The economy needs financial resources to develop. And that's exactly what we do. We provide access to cheap, predictable financial resources for our entrepreneurs to invest, develop and create new high-paying jobs here at home," the official said.

The Head of the Cooperation Section, Embassy of Germany in the Republic of Moldova, Dr. Merle Kreibaum, highlighted the fact that, in the context of getting the status of a candidate country for the accession to the European Union, the Republic of Moldova carries out concrete actions, including at the economic level, thus it makes significant progress in the integration process.

"Improving the business environment, creating jobs and therefore a perspective for young Moldovans at home is one of the main objectives of the Moldovan-German development cooperation. In this sense, access to finance plays a key role for the growth of SMEs, especially for women. We are proud of the results achieved so far together with our partners and we will continue to accompany Moldova as it advances further on the path of integration into the EU", said the head of the Cooperation Section. The financial agreement regarding the implementation of the "SME Development Facility from the Republic of Moldova" project was signed on Tuesday, March 5, in Chisinau. It provides for a financial contribution from the Government of the Federal Republic of Germany through the German Development Bank (KfW).

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