Press releases

EUR 10.7 million in the form of a grant will be provided in support of the development of SMEs in the Republic of Moldova by the Ministry for Economic Cooperation and Development (BMZ) of the Federal Republic of Germany via the German Development Bank (KfW)

From 7 to 11 August 2023 the Evaluation Mission of the German Development Bank (KfW) took place in Chișinău, composed of representatives of the Central Bureau KfW, Germany, the German Ambassad in Chisinau and the KfW Office of the Republic of Moldova.

Within this framework, a meeting room was held with representatives of the Ministry of Economic Development and Digitalisation, the Ministry of Finance and the Organisation for the Development of Entrepreneurship (ODA) and other national entities concerned in the future development project.

The objective of the Mission was to explore and assess, jointly with the national authorities involved, the prospects for the future project, with a view to determining the feasibility, benefits and risks associated with it.

Project Facilitating the development of SMEs in the Republic of Moldova it will be financed by the Government of the Federal Republic of Germany to support the Republic of Moldova in its efforts to promote sustainable economic development, in line with the Negotiations of the Moldo-German Governments on Development Cooperation held in July 2023. The project provides for the provision of a grant of EUR 10.7 million as part of the Stability Pact for South East Europe, to improve access to finance for SMEs as a driver of economic growth and job creation.

According to the discussions, the grant will be used exclusively to refinance investment loans to SMEs through the Entrepreneurship and Growth Fund (face) managed by ODA. The mission concluded with the signature of a Minutes, which provides for future actions necessary to achieve the proposed development objective, as well as the result indicators that will form the basis for the implementation of the Project.

The project will last 3 years and will be implemented and managed by the Organisation for the Development of Entrepreneurship.