Press releases

Chisinau, 18 September 2024 — The government is building a strong local economy also through Programme 373 – Government Programme for Supporting Entrepreneurs, one of the priority actions of the “Building European Moldova” National Plan. In just 15 months after its launch, the 373 Programme has achieved remarkable results for the SME sector, becoming a popular tool for financing investment projects.

Through the 373 Programme, some RON 2.7 billion have already been invested in the national economy and the outlook remains optimistic. 605 investment projects have already been completed or are at different stages of implementation.

Investment supports the growth of companies employing around 6.580 people and more than 1 380 new jobs are expected in the near future.

The money was channelled into the development of small and medium-sized businesses, thus helping to sustain a vital segment of the national economy and thus of the Republic of Moldova. Appropriations under the 373 programme allow entrepreneurs to grow their businesses, grow, progress to a higher level and create new jobs.

The geographical distribution of investment projects covers all districts of the country, with values proportional to the number of companies in each region. The largest investments were recorded in the Centre region, with over RON 1 billion, followed by Chisinau, with RON 935 million, the North region, with RON 485 million, and the South region, including UTA Gagauzia, with RON 247 million. The average value of the loans is approximately RON 3 million.

Programme 373 is requested by companies from a wide range of business areas. The largest investments were made in the energy generation and supply sector, which attracted around 42 % of the total value of investment projects. Transport and storage was another significant area, capturing 22 %, followed by manufacturing with 15 %. Notable investments are also made in sectors such as health and social care, education, leisure and others. The stories of small entrepreneurs who have developed their businesses through Programme 373 are diverse and inspirational.

Programme 373 was launched in July 2023 and in spring this year the Government extended access to funding and simplified procedures. Nowadays, SMEs in the commercial sector (excluding those selling alcoholic beverages and tobacco), as well as in the field of maintenance and repair of motor vehicles and motorcycles, also benefit from easier access to finance. The maximum amount of credit was increased from RON 15 million to RON 40 million, and it was also permitted to finance the purchase of raw materials and materials necessary for the production or provision of services, up to a limit of 30 % of the value of the investment project. At the same time, the maximum guarantee ceiling was increased from 40 % to 80 % of the loan amount through the Credit Guarantee Fund, and the banking procedures for granting loans were simplified.

Programme 373 loans are available in any bank in the country. For further information and opportunities, we invite you to call the ODA consultancy service on + 373 2229 5741 or on www.373.gov.md