Press releases
Romania’s experience, useful for Moldova’s Credit Guarantee Fund
A delegation from the Organisation for the Development of Small and Medium-sized Enterprises (ODIMM) conducted an exchange visit to the Romanian National Credit Guarantee Fund for Small and Medium-sized Enterprises (FNGCIMM). The purpose of the visit of the delegation of representatives of the Credit Guarantee Fund (CRF) in the Republic of Moldova was to learn from the experience gained by the Romanian counterparts with regard to the guarantee procedures implemented.During the visit, ODSME specialists were acquainted with the history and mission of the National Credit Guarantee Fund for SMEs, the method and scheme for guaranteeing loans to SMEs, the legal aspects and method of enforcing the financial guarantees granted, and the guarantee scheme implemented under the ‘Prima Casă’ government programme.
For their part, the members of the ODIMM delegation presented their experience in managing programmes to support the SME sector, including the loan guarantee procedures implemented by the FGC in Moldova.
In this regard, FNGCIMM representatives were interested in the ODIMM experience in the management of the FGC and support programmes for young people, women, migrants, etc. They also expressed the hope that both the FGC and the Ministry of Finance of the Republic of Moldova would take over the expertise of the Romanian team which would help to improve the work processes.
The main activity of FNGCIMM in Romania is to issue guarantees and make commitments to guarantee credit and other financing instruments that can be obtained by small and medium-sized enterprises in Romanian commercial banks.The Moldovan FGC is managed by ODIMM. The FGC is the first and only credit guarantee fund created from state budget resources, which aims to support SMEs in accessing financial resources. The financial guarantee issued by the FGC can be used by SMEs to cover the pledged need for loans requested from commercial banks.