The Fund for Entrepreneurship and Economic Growth of Moldova (FACEM) will offer loans and total or partial subsidies at the cost of loans raised by enterprises. The regulations of the new program were approved by the Cabinet, IPN reports. 

The fund will be managed by the Organization for Entrepreneurship Development, which will be financed with state budget finds and with the funds provided by the development partners and will offer the entrepreneurs access to financing at low costs.

“We must make sure that we capitalize this FACEM fund as much as we can. I ask you to ensure the products are simple, known by the business community and to cooperate with banks as the banks also have a lot of liquidity and we need to think how to facilitate lending to SMEs through state guarantee instruments,” said Prime Minister Dorin Recean.

The state’s contribution for 2022 is 70 million lei. During the next years, it is planned to allocate 2.77 billion lei: 450 million lei in 2023, 1 billion lei in 2024 and 1.32 billion lei in 2025.