The Ministry of Economic Development, ODA and KfW signed an agreement on the use of a EUR 10.7 million grant from the German government.
The Ministry of Economic Development and Digitalization of Moldova, the German Development Bank (KfW) and the Organization for Entrepreneurship Development (ODA) have established the main provisions for the implementation of the financial program. It will be implemented within the framework of an agreement on the promotion of small and medium-sized businesses, signed by the parties on March 5 this year. The new agreement - on the implementation of the program - details the management of the EUR 10.7 million grant, which is provided by the German government through KfW. The agreement spells out important technical aspects: the management of the funds, the principles of financing SMEs, the obligations and responsibilities of the ODA in implementing the project. The agreement also provides for important operational aspects to ensure access to finance for SMEs, with a special focus on enterprises run by women. Let us remind you that, on March 5, a financial agreement was signed on the implementation of the project "Fund for the Development of Small and Medium Enterprises in Moldova", which envisages a financial contribution of EUR 10.7 million from the German government through KfW. The assistance is provided free of charge and the funds will be used to improve access to finance for SMEs, in particular through the exclusive refinancing of investment loans granted to them through FACEM, which is managed by ODA. // 16.05.2024 - InfoMarket.
