Companies with growth potential could have increased access to loans

11.06.2016 10:19
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The Organization for the Development of Small and Medium-Sized Enterprises (ODIMM) suggests a number of solutions for facilitating access to financing for Moldovan companies with growth potential. The issue was discussed in a working meeting convened by the Organization and the Ministry of Economy. This involved representatives of the banking sector. The participants in the meeting considered possibilities of improving the work of the Loan Guarantee Fund that is managed by the ODIMM, IPN reports.

In a press release, the Organization says that it suggests increasing the guarantee ceiling on the offered products, reducing the guarantee commission and other improvement activities. These will help use the Loan Guarantee Fund in the best way possible.

Svetlana Turcanu, acting head of the SMEs and Trade Development Policies Division of the Ministry of Economy, said the access to financing is one of the most discussed subjects at meetings with entrepreneurs. The Ministry is open to any dialogue with the banks so as to facilitate access to loans and reduce the risks both for SMEs and for banks.

ODIMM director general Iulia Iabanji said most of the aspects to optimize the work of the Loan Guarantee Fund were repeatedly discussed with financial institutions and the business community. All these proposals will be included in the new agreement of cooperation between the ODIMM and commercial banks.

According to her, the Organization for the Development of Small and Medium-Sized Enterprises plans to establish cooperation relations with such lines of credit implementation units as the Competiveness Enhancement Project II, the International Fund for Agricultural Development VI and the Moldovan Sustainable Energy Financing Facility MOSEFF. This can increase the level of absorption of international funds. The ODIMM also aims to establish cooperation partnerships with guaranteeing microfinance organizations. Starting with 2011, with the support of the EU, the fund’s portfolio was increased by over 60 million lei. This allows using the money for SMEs.