Announcements

A collaboration agreement to secure loans from the Credit Guarantee Fund (FGC) was signed by the Organisation for the Development of Small and Medium-sized Enterprises (ODIMM) with B.C., Tradesbank S.A. in June this year. The main purpose of the partnership is to implement guarantee schemes to increase access to credit for micro and small enterprises.

In this way, ODSMEs facilitate access to finance by providing guarantees for loans taken out from commercial partner banks:BC, Moldova – Agroindbank "S.A., BC, Moldincobank" S.A., Bank of Finance and Commerce "S.A., Romanian Commercial Bank Chisinau" S.A., BC, Savings Bank "S.A., BC, Unibank" S.A., BC, ProCredit Bank "S.A., BC Victoriabank S.A.

During 2013, the bank most active in granting loans with the ODIMM financial guarantee was BC ‘Moldova Agroindbank’ SA, in favour of which more than 40 financial guarantees were released, allowing the disbursement of loans amounting to approximately RON 19 million.

The analysis of the impact of the guarantees on businesses shows that each leu granted in 2013 in the form of a guarantee attracted investments in the economy amounting to approximately RON 4.

We would point out that the Credit Guarantee Fund is managed by the Small and Medium-sized Enterprises Development Organisation (ODIMM), which facilitates access to credit for viable enterprises that do not have sufficient security. The FGC is an effective lever to improve access to finance for small entrepreneurs, and financial security is a product provided to entrepreneurs who have sufficient capacity to repay a loan, but cannot obtain it due to the lack of a pledge acceptable to the bank.