Starting today, entrepreneurs can apply for loans with advantageous interest through 373 Program

Chisinau, June 22. /MOLDPRES/- Starting today, entrepreneurs can apply for investment loans of up to 15 million lei (750 thousand euros), with an advantageous interest rate, partially covered by the state, through the government's Investment Stimulation Program 373. Deputy Prime Minister Dumitru Alaiba, Minister of Economic Development and Digitalization and Director of the Organization for Entrepreneurship Development Dumitru Pîntea made the statement at a press conference.

The interest rate on loans in foreign currency will be 3% annually, and in lei - 7% annually. Loans can be accessed by small and medium-sized enterprises for a term of up to seven years, with a grace period of up to three years.

The maximum amount of loans is 15 million lei, with an own contribution of only 10 percent of the value of the investment project. Loans can be requested at one of the 11 commercial banks in the Republic of Moldova. Economic agents, who wish to access investment loans for business development with state-compensated interest, must submit a loan application, accompanied by a set of documents. Later, the bank examines the application and decides to grant the loan, signing a contract.

Alaiba said the priority of Program 373 is to stimulate investments, promote economic development, create new jobs and access new markets for local products and services. Investment projects from fields such as agriculture, manufacturing industry, waste management, information and communications, education, health and social assistance may be submitted to the Program.

Pîntea said that loan applicants must meet certain eligibility criteria, including the absence of debts to the state budget. Companies that have beneficial owners registered in jurisdictions that do not implement international financial transparency standards will not be eligible for the program.

The financing of the credit interest compensation activity will be carried out from the account and within the limits of the allocations established in the state budget for the respective year, as well as from the account of external financial assistance. This year, financial resources amounting to 250 million lei were provided for the implementation actions of the 373 Program.

The launch of 373 Program was announced in early May.