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Moldovan President Maia Sandu has sent an urgent action plan to the government to overcome the economic crisis.

Moldovan President Maia Sandu has sent an urgent action plan to the government to overcome the economic crisis.

In particular, the matter concerns a number of measures designed to make it easier for small businesses and farmers to access the necessary financial resources through the Credit Guarantee Fund. “According to this plan, the guarantee fund will increase to more than 1.5 billion lei. An important part of the plan is informing the business environment about this opportunity and simplifying procedures for accessing money. I count on the solidarity of everyone, including banks, in the implementation of these measures,” said Maia Sandu. According to the head of state, the government has all the levers and funds required to implement this plan. “The implementation of this plan will make it easier for business people to get loans, start spring work, save jobs,” the President explained. The proposed action plan stipulates, inter alia, the application by the Organization for the Development of the Small and Medium Enterprise Sector (ODIMM) of a higher multiplier (increasing the multiplier to 10) within the Guarantee Fund; extension of the offer with the guarantee commission of 0% per annum until the end of the year; an increase in the maximum guaranteed amounts from 3 million to 5 million lei for active enterprises and from 5 million to 7 million for export-oriented enterprises; accepting only personal guarantees and future harvest as an additional pledge; shortening the processing time for bank loan applicants; consent to issue guarantees for companies classified as substandard or unfavorable customers; supplementing ODIMM lending products for companies affected by the pandemic, with a guarantee condition for companies affected by drought, while maintaining the same benefits; creation of a call center within ODIMM for consultation and training of loan applicants; creation of a fund for guaranteeing and issuing state guarantees for entrepreneurs according to the Prima Casă model, etc. The detailed action plan can be found at the following link: http://bit.ly/plan-de-actiuni-IMM. // 15.03.2021 - InfoMarket

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