News

Small and medium-sized enterprises (SMEs) in Moldova can obtain loans from the Romanian Commercial Bank Chișinău S.A. with state guarantees under the State Credit Guarantee Fund.

To this end, the Organisation for the Development of Small and Medium-sized Enterprises (ODIMM) has signed the Cooperation Agreement with the Romanian Commercial Bank, Chisinau S.A., concerning the guarantee of loans granted by the bank to SMEs in Moldova.

‘Credit guarantee funds for SMEs are an effective lever to improve access to finance for economic operators. BCR Chișinău wishes to provide financial support for all viable and successful projects, but which so far had no chance of being realised due to the lack of sufficient guarantees to secure the credit.’ stated Sergiu Sahanovschi, Corporate Executive Director BCR Chisinau S.A.

‘Loan guarantee funds, by facilitating SMEs’ access to finance, can stimulate economic growth in the country by leveraging available and unused financial resources and incentivising their efficient use. We are pleased that BCR Chisinau contributes to the development of the national economy by signing today’s Cooperation Agreement’, stated Iulia Iabanji, Director-General ODIMM.

The Special Credit Guarantee Fund was established on the basis of Government Decision No 208 of 20.3.2001, managed by the Entrepreneurship and Small Business Development Fund, and now managed by ODIMM (established on the basis of Government Decision No 538 of 17 May 2007), its legal successor. ODIMM proposes guarantees for both active businesses and start-ups, young entrepreneurs and migrant workers who want to set up a business. The guarantees provided may cover up to 50 % of the size of the 5-year loan in the case of active enterprises, young entrepreneurs and migrant workers and up to 70 % of the size of the 3-year loan in the case of start-ups.

BCR Chișinău S.A. serves more than 2000 economic operators in the Republic of Moldova, of which more than 90 % are small, medium and micro enterprises. Facilitating access to finance for SMEs and microenterprises is one of the strategic priorities of BCR Chișinău S.A., both by making efficient use of existing resources and by attracting resources from international financial institutions.

For more information about the Credit Guarantee Fund, please contact us by phone (022) 22-50-01contact person Ms Viorica Cerbușca .