The MPs gave a final reading to the bill to constitute the Fund for Entrepreneurship and Economic Growth, adopting it. The fund will offer access to financing in advantageous conditions to small and medium-sized enterprises in Moldova, IPN reports.

The Fund for Entrepreneurship and Economic Growth of Moldova will have the status of internal subdivisions of the Organization for Entrepreneurship Development. As a result, there will be used such financing instruments as loans, total or partial subsidization of loan costs and other financing mechanisms.

The fund will be financed with state budget allocations, financial resources provided by development partners and donors in the form of loans, technical and financial assistance and grants. It will also be supplemented with revenues from lending and relending and from the investing of available funds.

A sum of 70 million lei was allocated in 2022 for the capitalization of the Fund for Entrepreneurship and Economic Growth. The Government aims to raise the capitalization to 2.45 billion lei over the next three years. It is estimated that next year the Organization for Entrepreneurship Development will be able to offer about 1 billion lei to entrepreneurs through this fund.