Government expands the categories of the "373" Program beneficiaries and increases the maximum amount of financing from 15 million to 40 million lei.
The Cabinet of Ministers made the relevant amendments to the Investment Incentive Program "373" at a meeting on May 8. In particular, the "373" Program will be extended to a wider group of beneficiaries. SMEs in the field of trade (except those who sell alcoholic beverages and tobacco products), as well as enterprises involved in the maintenance and repair of cars and motorcycles will also have access to financing. Also, the maximum amount that can be granted to one beneficiary has been increased - from 15 million lei to 40 million lei (2.7 times). Besides, it will be allowed to finance the purchase of raw materials necessary for production or rendering services - within 30% of the investment project's value. At the same time, the maximum amount of guarantee has been increased from 40% to 80% of the loan amount under the proposed guarantees (a requirement of the Credit Guarantee Fund) and the bank procedures for issuing loans have been simplified. The limit on access to financial assistance from the state is also removed: the status of the support measure will change from "minimum assistance scheme" to "state aid". This will allow entrepreneurs to produce more, to be more competitive on the market, to grow, to develop. According to the government's information, so far, within the "373" Program, more than 300 beneficiaries have received 363 loans for a total investment of 1.46 billion lei. More detailed information about the program is available at the link: https://373.gov.md. // 08.05.2024 - InfoMarket.
