Entrepreneurs in the Republic of Moldova will have faster and easier access to financing. The Organization for the Development of Entrepreneurship (ODA), through the Credit Guarantee Fund, launches the loan portfolio guarantee mechanism that, according to the ODA, accelerates the process of granting guaranteed loans, eliminating the need for individual approvals for each file, IPN reports.
"There is no longer a need for individual approval of each file by the ODA. This significantly reduces processing time and gives SMEs real and fast access to finance. Thus, entrepreneurs can move forward with their plans without bureaucratic delays," says ODA director Vadim Codreanu.
The first commercial bank to apply this scheme is MAIB, with a ceiling of 400 million lei in guaranteed loans.
The implementation of the mechanism is financed by the International Bank for Reconstruction and Development, which is part of the World Bank group. The first tranche of the funding, in the amount of €9.5 million, is already active. The second tranche, of €4.3 million, will be available next year. In total, the mechanism has the capacity to guarantee up to 2 billion lei in loans over the next two years.
The financing is granted in the form of a repayable loan from the state budget, and the ODA is responsible for developing and operationalizing the portfolio guarantee mechanism.
In 2024, the Credit Guarantee Fund issued almost 900 guarantees, facilitating the granting of loans in the amount of over 1.8 billion lei, which generated investments of more than 2.4 billion lei in the economy.
