Entrepreneurs can ask for investment loans of up to 15 million lei from commercial banks that are partners of the governmental program “373” as from today, June 22, Deputy Prime Minister Dumitru Alaiba, Minister of Economic Development and Digitization, stated in a news conference.

According to the program’s concept, the interest rate on loans in foreign currencies is 3%, while on loans in lei is 7%. For loans repayable in seven years, the grace period is at most three years. Investment loans with interest rate that is partially covered by the state through the Organization for Entrepreneurship Development (ODA) can be raised from one of the 11 commercial banks of Moldova.

According to Dumitru Alaiba, the governmental program “373” is an ambitious initiative aimed at supporting the SMEs. It is a dedicated mission and a commitment to strengthen the country’s economy and to generate sustainable economic growth in Moldova.

ODA director Dumitru Pîntea said the objective of the program “373” is to revitalize the work of SMEs in the current economic context by providing investment loans with partially compensated interest through the Fund for Entrepreneurship and Economic Growth of Moldova.

Up to 40% of the value of loans will be guaranteed through the Loan Guarantee Fund. The maximum value of loans is 15 million lei, with an own contribution of 10% of the value of the investment project. The SMEs will pay the interest rate on the investment loan to the bank, while ODA will pay the subsidized interest by transfer to the bank, with state budget and foreign funds.

About 250 million lei was earmarked this year for implementing the investment stimulation program “373”.