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Germany to offer €10.7 million grant to support development of SMEs

Moldova will receive a €10.7 million grant from the German Federal Ministry for Economic Cooperation and Development (BMZ). The money will be provided through the German Development Bank (KfW) to support the development of SMEs in our country.

Earlier this month, an evaluation mission from KfW visited Chisinau, during which a series of meetings took place with representatives of the Ministry of Economic Development and Digitalization, the Ministry of Finance and the Organization for the Development of Entrepreneurship (ODA).

The project “Facilitating the Development of SMEs in the Republic of Moldova” aims to support the Republic of Moldova in its efforts to promote sustainable economic development. The €10.7 million grant will be offered as part of the Stability Pact for South-Eastern Europe, in order to improve access to finance for SMEs in their capacity as promoters of economic growth and job creation.

The grant is to be used exclusively for the refinancing of investment loans granted to SMEs, through the Fund for Entrepreneurship and Economic Growth, administered by ODA. The project will run three years and will be implemented and managed by ODA.

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