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The 373 State Program has already supported 25 investment projects for a total of 65.7 million lei.

The 373 State Program has already supported 25 investment projects for a total of 65.7 million lei.

This was announced by Deputy Prime Minister, Economic Development and Digitalization Minister Dumitru Alaiba, who said that the companies will invest the preferential long-term credits, partly covered by the state, provided under the 373 Program, in business development. SMEs can use this money to innovate, modernize infrastructure and diversify products and services. "By introducing the 373 Program, we want to mobilize cheap fixed-rate loans to support SMEs' investments, regardless of how interest rates will change. We are taking the market risk," Dumitru Alaiba stated. Earlier it was reported that through the 373State Program the government supports the development and diversification of the economy in different regions of the country, and the beneficiaries of soft loans are companies working in agriculture, processing industry, transport, hospitality and catering, health care, social assistance, etc. Thus, both rural and urban entrepreneurs are supported, contributing to the development of the economy and stimulating growth in all key sectors. The interest rate on loans in foreign currency is 3% per annum and in lei (MDL) - 7% per annum. Investment loans can be attracted by small and medium-sized enterprises for up to 7 years with a grace period of up to 3 years. Supporting small and medium-sized entrepreneurs is one of the 20 priority directions of the government's activity, announced by Prime Minister Dorin Recean. The 373 State Program also envisages and guaranteeing up to 40% (depending on the circumstances) of the value of loans through the Credit Guarantee Fund from the portfolio of the Entrepreneurship Development Organization (ODA). The goal of the 373 program is to revive the activity of small and medium-sized enterprises in the current economic conditions by granting investment loans by partner financial institutions and partial compensation of the interest rate by the state through the Fund for Entrepreneurship and Economic Growth of Moldova (FACEM). // 18.08.2023 - InfoMarket.

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