Small and medium-sized enterprises will have access to financing from the Fund for Entrepreneurship and Economic Growth of Moldova (FACEM).
The Monitorul Oficial has published and Regulations entered into force the on the activities of the Fund for Entrepreneurship and Economic Growth of Moldova (FACEM), which is designed to promote the development of enterprises from strategic and priority areas with growth potential; stimulate job creation and increase the size of financial support for enterprises and access to finance in general, ensure the growth of competitiveness through the provision of access to finance. The Fund is created and will operate as part of the Organization for the Development of Entrepreneurship (ODA) with the status of an internal unit, without forming a legal entity. The Fund for Entrepreneurship and Economic Growth of Moldova (FACEM) resources will be formed from state budget allocations, funds allocated by development partners and / or donors (credits / loans, financial and technical assistance, grants), income received from lending and re-lending, usufruct received from the investment of free financial resources and from other legal sources. Fund resources will be provided to beneficiaries through financial partners, which can be banks and non-bank credit organizations. Banks or non-bank organizations registered with the NBM/NCFM that are not in the process of resolution, or their activities are not suspended/in the process of liquidation and are not under supervisory measures prohibiting the provision of loans, can become partners. Financial partners should have an appropriate organizational structure, with banks having an active SME loan portfolio and non-bank credit organizations having an SME loan portfolio of at least 20% of the active loan balance. Partners should not have debts to the national public budget, and the share of bad loans from financial partners should not exceed the allowable limits. The Fund for Entrepreneurship and Economic Growth of Moldova (FACEM) is expected to provide entrepreneurs with access to low-cost financing. In 2022, 70 million lei were allocated to finance the fund, part of which is also planned to be used this year. In 2023-2025 the size of the fund will be about 2.8 billion lei. No more than 1% of the Fund for Entrepreneurship and Economic Growth of Moldova (FACEM) amount will be allocated for administrative expenses. // 14.03.2023 — InfoMarket
