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Germany will provide Moldova with a grant of 10.7 million euros for the development of the small and medium-sized enterprises sector.

Germany will provide Moldova with a grant of 10.7 million euros for the development of the small and medium-sized enterprises sector.

The corresponding grant agreement to finance the project “Promoting the development of SMEs in Moldova” was signed on March 5 in Chisinau by the head of the cooperation department of the German Embassy in Moldova, Dr. Merle Kreibaum, representative of the German Development Bank (KfW) Eva Schlarb, Minister of Economic Affairs development and digitalization Dumitru Alaiba and acting director of the Entrepreneurship Development Organization Gheorghe Iudin. According to the agreement, the German Ministry of Economic Cooperation and Development, through the German Development Bank (KfW), will provide 10.7 million euros in the form of a grant to support the development of small and medium-sized businesses in Moldova. The grant will be used exclusively to refinance investment loans to SMEs through the Facility for Enterprise and Economic Growth (FACEM), managed by ODA. The project will be implemented for 3 years. As Dumitru Alaiba noted, at least 100 economic agents will be able to use the financial resources. The grant will help expand business, improve the quality of production and the level of competitiveness of SMEs in Moldova, economic growth and the creation of new jobs. Dumitru Alaiba noted that at the same time the government will continue efforts to reduce bureaucratic barriers to business, increase the degree of digitalization of government services for citizens and businesses, and create favorable conditions for the development of entrepreneurship. // 05.03.2024 — InfoMarket

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