The World Bank will allocate $50 million for the implementation of the new "SMEs Competitiveness and Internationalization 2023-2027" project in Moldova.
Minister of Economic Development and Digitalization Dumitru Alaiba announced this at a press conference dedicated to the presentation of the project. He said that the project will be implemented in 2023-2027 jointly with the Organization for Entrepreneurship Development (ODA). The structure of the project is divided into several parts. The first one is digitalization and regulatory reform, which envisages: digitization of services of central and local authorities, aimed at entrepreneurship; reform of control bodies; simplification of licensing documents; retooling of control bodies and fight against corruption in this sphere; improvement of quality of laboratories and certification of products, aimed both at domestic market and export. The second part is access to finance for small and medium-sized enterprises (SMEs): the SME Credit Guarantee Fund, managed by the Organization for Entrepreneurship Development (ODA), will be renovated within this framework. In particular, portfolio guarantees will be launched this year. To this end, $15 million will be allocated from the total budget provided by the World Bank. The third part is aimed to develop and improve the competitiveness of SMEs intending to export their products. For these purposes, $13 million will be allocated. It is planned that small and medium-sized enterprises will receive grants, consulting services, and an opportunity to participate in export promotion programs. As head of ODA Dumitru Pintea said, the details of the grants will be announced this month and the contest of applications will be launched. The World Bank country director for Moldova, Inguna Dobraja, said the project will be in line with the governmental strategy for small and medium-sized enterprises development and will contribute to the improvement and increase of the efficiency of business services through digitization. She noted that SMEs development is important for the development of a sustainable economy in Moldova. The development of SMEs also means opening new jobs, which is necessary for our country. Inguna Dobraja reiterated the World Bank's intention to continue cooperating with Moldova, emphasizing the good results of the projects implemented in Moldova with the WB's support. During 30 years of cooperation, the World Bank has allotted to Moldova more than $1.3 billion. At present the Bank is implementing over 12 projects worth almost $640 million. // 06.04.2023 – InfoMarket
