Moldovan state supported over 300 companies in implementing investment projects

Chisinau, 28 August /MOLDPRES/- More than 300 small and medium-sized enterprises (SMEs) that did not have pledges to get loans from banks were supported by the state through the Loan Guarantee Fund (FGC), managed by the Small and Medium Enterprise Development Organization (ODIMM).

During the 11 years of ODIMM's activity, financial guarantees amounting to about 92 million lei were granted, which allowed SMEs to get credits of over 275 million lei. They were used for the implementation of investment projects amounting to 438 million lei, the government’s communication and protocol department has reported.

Granting financial guarantees simplifies the access of entrepreneurs to financial resources, increases the competitiveness, quality and diversity of goods produced by SMEs.  New job creation and business growth are also encouraged.

Recently, the government approved a new regulation of the Loan Guarantee Fund, whereby the state will provide SMEs with guarantees worth 80% of loans from banks for business development.

This year, the FGC provided financial guarantees amounting to 11.5 million lei, investment projects worth 76 million lei were carried out.

(Editor M. Jantovan)