Funding opportunities in focus at Financial Management Academy’s final event
OTP Bank continues to contribute to the development of financial experts through access to top training in the field. On November 27, at Jazz Hotel, Chisinau, more than 20 clients and partners of the bank shared their experiences and discussed financing opportunities with other participants of the Financial Management Academy training program, the team of the European Bank for Reconstruction and Development ( EBRD), OTP Bank and European Business Association (EBA) Moldova.
The objective of the event was to provide a networking platform for participants and trainers, and to detect current barriers encountered by financial managers in order to incorporate their solutions into future editions of the Academy.
"Discussions with participants confirmed the increased interest in the continuous development of entrepreneurial skills, including in such areas as: taxation, risk management, procurement, digitalization and liquidity assurance in the context of external financing. We stand by the SMEs that propose to develop their businesses, both through support in the form of grants for the implementation of consultancy projects, as well as through training and facilitating access to financing," said Maria Terentiev, Analyst from the EBRD Moldova team.
Mariana Rufa, Executive Director, EBA Moldova highlighted: "In addition to financial management, accountants are often involved in related activities: planning, financing applications and procurement. With this in mind, we hope that we have offered you the right tools to capitalize on existing opportunities. EBA regularly conducts training in the field and invites you to become members of the association to benefit from the expertise and support of more than 100 companies."
Cornelia Rotari, Head of Local Corporate Clients Department, OTP Bank thanked the partners: "Collaborations between foreign donors, local financial institutions and business associations create the perfect space for business development. They contribute not only to facilitating access to finance, but also provide institutions with the necessary feedback to create more efficient financial products. We thank EBRD and EBA for a fruitful collaboration.”
In addition to thematic discussions, the organizers presented opportunities for external funding. Small and medium-sized enterprises that aim to improve their internal processes through consulting projects in marketing, digitization and governance can apply to the EBRD's Small Business Consulting Program for co-financing.
Companies aiming to align themselves with European standards by investing in equipment and processes can obtain financing within the EaP SMEC project, part of the EU4Business initiative, supported by the European Union and EBRD. OTP Bank facilitates entrepreneurs' access to EaP SMEC by providing application assistance and reimbursement management.
The networking event concludes the first edition of the Financial Management Academy training program supported by EBRD Moldova, implemented in partnership with EBA, OTP Bank and co-financed by the Delegation of the European Union to the Republic of Moldova. The program was delivered by experts Daniela Secinschii, Olga Melniciuc, Elena Crangaci and Elvira Coroi between October 17 and November 9 and was completed by 57 participants.
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The European Bank for Reconstruction and Development is the largest institutional investor in the Republic of Moldova. So far, the Bank has invested over 2 billion euros in 164 projects from the financial, agri-food, energy, infrastructure and industrial sectors in Moldova.
European Business Association Moldova is an impact organization, which aims to align the national economy and business legislation to EU standards and promote European values and the best business management practices in the entrepreneurial community. EBA Moldova is a member of the EBO Worldwide Network.
OTP Bank Moldova, subsidiary of OTP Group, is an integrated and universal provider of financial services. With an approach defined by responsibility, commitment and professionalism, OTP Bank understands the needs of customers and the current market context, and is a reliable financial partner.
