Over 3.5 billion lei were invested in Moldova's national economy under the 373 Investment Stimulation Program
The Cabinet of Ministers announced this, noting that over 3.5 billion lei were invested in the national economy by 570 beneficiaries of the government program. Of this amount, about 2.4 billion lei are loans with interest rate compensation granted by the state for the implementation of 750 investment projects. The investments contribute to the development of companies employing about 8,400 people, and another 1,969 new jobs are expected to be created in the near future. As noted by the government, enterprises from a wide range of industries participate in the 373 program. The largest investments were made in the energy production and supply sector, which attracted about 45% of the total cost of investment projects. Transport and storage was another important area with a share of 16%, as was the manufacturing industry. Investments are also made in the healthcare and social assistance, agriculture, forestry and fisheries sectors. The geographical distribution of investment projects covers all regions of the country, their values are proportional to the number of companies in each region. The largest investments were registered in the Central region and Chisinau municipality - over 1.2 billion lei for each region. In the Northern region, investments reached 686 million lei, and in the Southern region - 185 million lei. In ATU Gagauzia, the value of investment projects is 120 million lei. The average loan amount is 3.2 million lei. The "373" program was launched in July 2023, and in the spring of 2024, the government expanded access to financing and simplified procedures. Currently, SMEs in the trade sector (except for those selling alcoholic beverages and tobacco products), as well as in the maintenance and repair of cars and motorcycles, have easier access to financing. The maximum loan amount was increased from 15 million to 40 million lei, and financing of the purchase of raw materials and materials necessary for production or provision of services was also allowed, within 30% of the cost of the investment project. At the same time, the maximum guarantee ceiling was increased from 40% to 80% of the loan amount through the Credit Guarantee Fund, and banking procedures for issuing loans were simplified. The goal of the "373" program is to ensure access of small and medium enterprises to financing for investment projects by partially compensating the interest rate on investment loans provided by Moldovan banks. Within the framework of this program, entrepreneurs can apply for a loan with an interest rate of 7% per annum in lei and 3% per annum in foreign currency. Investment loans can be attracted by small and medium enterprises for a period of up to 7 years with a grace period of up to 3 years. The interest rate is compensated by the state through the Entrepreneurship and Economic Growth Fund of the Entrepreneurship Development Organization. The overall objective of the programme is to stimulate economic growth through entrepreneurship by providing financial support for investment projects to develop entrepreneurship and to achieve the following specific objectives within the framework of its implementation: increasing the number of small and medium-sized enterprises with access to financing for investment projects in order to support the development and growth of the relevant business; stimulating economic growth through investments in projects that can improve the efficiency and effectiveness of business in order to facilitate an increase in wages for workers, as well as an increase in the income and profitability of SMEs; increasing the competitiveness of SMEs through investments in projects aimed at improving the efficiency, productivity and quality of products and services and contributing to the growth of exports and/or import substitution in order to promote sustainable development and strengthen the position of SMEs in the domestic and foreign markets. //13.01.2025 — InfoMarket
