Press releases
ODIMM presented progress made following the implementation of business support programmes in the Republic of Moldova
Today, the EU4Business Platform with the support of the Delegation of the European Union to the Republic of Moldova brought together representatives of the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the Ministry of Economy and Infrastructure of the Republic of Moldova (MEI), the Organisation for SME Sector Development (ODSME), commercial banks and microfinance companies of the Republic of Moldova in a roundtable meeting. The event aimed to assess the progress of support programmes ensuring access to finance for the Moldovan business environment.
In the round table, the Acting Director-General of ODIMM, Petru Gurgurov, moved the active support instruments for SMEs and the results achieved to the magazine. The focus was on access to finance provided by programmes managed by ODIMM.
According to Petru Gurgurov, the Credit Guarantee Fund (CRF) is a state instrument, managed by ODIMM, that ensures access to finance for SMEs by issuing financial guarantees to secure loans requested by entrepreneurs. At the same time, the adjustments made for the optimal functionality of the guarantee processes were scored:as a result of the actions taken to improve guarantee processes, in 2017 there was an increase in the portfolio of financial guarantees of 76.12 %, which made it possible to attract financial resources of approximately RON 231 million to the economy. Financial guarantees issued by FGC-ODIMM helped to keep around 1000 employees in employment”stressed Petru Gurgurov.
The ODIMM Acting Director specified that another SME support instrument, managed by ODIMM, is the PARE 1 + 1 programme, aimed at migrant workers or their first degree relatives, who wish to invest in starting or expanding a business. Petru Gurgurov stated that, under the Programme, with the support of the European Union, the total amount of the grants granted amounted to approximately RON 215.8 million, while the investments in the economy amounted to RON 697.9 million, and each RON granted in the form of a grant generated approximately RON 3,23 in investments in the economy. At the same time, 3170 jobs were created through the programme.Petru Gurgurov’s presentation also referred to the Women in Business Pilot Programme, launched in 2016, by providing financial and non-financial support for women’s business development, “Women in Business Programme saw 659 women participants, 408 women trained, 179 new companies created, providing 192 jobs”. 
At the end of the event, the key actors involved in the EU4Business platform analysed the challenges and factors accelerating the success of SME support programmes. The recommendations and suggestions discussed at the event will be presented in the Annual Report prepared for the EU4Business General Assembly in Brussels on 20-21 June 2018.
Small and medium-sized enterprises (SMEs) in the EU’s Eastern Partnership region have the potential to create jobs and boost economic growth. Impediments such as limited access to finance, the legal framework and difficulties in entering new markets hinder their progress. The EU4Business initiative of the European Union removes these obstacles through funding, support and training that helps small businesses reach their full potential. EU4Business support is provided through organisations such as the European Bank for Reconstruction and Development and the European Investment Bank. Note that the EU4Business initiative includes all EU activities supporting SMEs in the Eastern Partnership countries.
