Germany provides grant worth 10.7 million euros for development of enterprise from Moldova

15:06 | 28.08.2023 Category: Economic

Chisinau, 28 August /MOLDPRES/ - Germany provides Moldova with a grant worth 10.7 million euros for the development of small- and medium-sized enterprises from the country.

The money will be provided by the Ministry for Economic Cooperation and Development of Germany, through KfW German Development Bank. In the context, an evaluation mission was organized in Chisinau, in order to analyze and assess, jointly with the national authorities involved, the perspectives of the future project, in order to establish the feasibility, benefits and risks related.

The project will last three years and will be implemented and managed by the Organization for Entrepreneurship Development (ODA). According to the discussions, the grant will be used exclusively for re-financing the investment loans provided to small- and medium-sized enterprises, through the Fund for Entrepreneurship and Economic Growth (FACEM), managed by ODA.

The project, Facilitation of Development of Small- and Medium-sized Enterprises from Moldova, is set to back the country in its efforts to promote the sustainable economic development.

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