Small and medium-sized enterprises to have access to low-interest lending fund, supported by state

Chisinau, February 28 /MOLDPRES/- The cabinet approved today following the initiative of the Ministry of Economic Development and Digitization the Regulation of the Fund for Entrepreneurship and Economic Growth of Moldova (FACEM), administered by the Organization for Entrepreneurship Development, which will offer loans, but also total or partial compensation of the costs of loans or other advantages of financing offered to enterprises, the government's communication and protocol department has reported.

Under the new program, businesses in strategic and priority areas of the national economy will have easier access to business financing with potential for growth and development, respectively, jobs will be created and maintained.

"The FACEM fund will stabilize the economy, help overcome the economic crisis, especially the inflationary one generated by the crisis in the region. Thus, we will have more jobs, more modern technologies, higher investments, higher productivity and competitive salaries", said Deputy Prime Minister Dumitru Alaiba, Minister of Economic Development and Digitalization.

"It is a very important project. We need to make sure we use as much as we can the FACEM fund. Let's make the products simple, let them be known by the business environment and collaborate together with the banks, because the banks still have a lot of liquidity, we have to think about how to facilitate SME lending through the state's guarantee instruments", Prime Minister Dorin Recean said.

The FACEM fund will be financed from the state budget and from the sources of development partners and will give entrepreneurs access to low-cost financing. The state contribution for 2022 is worth 70 million lei. During the following years, additional use is expected of about 2.77 billion lei.

Photo: Government