80 Moldovan enterprises apply for financing provided by the Japanese Government

80 enterprises of Moldova solicit financing worth 15 million dollars for projects submitted to the implementation contest within the second allot of the grant on Small Business Assistance. The contest is launched by the Ministry of Economy and Commerce (MEC) and financed by the Japanese Government. According to the executive manager of the Grant Implementation Unit, Tudor Copaci, the whole financed amount is of 3,5 million dollars. Grant’s beneficiaries can apply for 40,000 to 340,000 dollars. According to him, will have priority especially enterprises of rural area, for producing competitive goods, contributing to substituting imports and promoting exports of Moldova. Of the enterprises announcing their participation, about 80% work in rural area. The program is directed to facilitate the purchasing by small and medium-sized enterprises of a large number of producing equipment, without any customs tax and VAT. The reimbursement term is of one year, without any interest rate. If along the leasing contract the beneficiary pays in term 60% of the equipment prices, than 40% are offered as grant. The purchasing will be made on the basis of the applications of beneficiary businessmen, through an international contest organized by the British Company Crown Agents. The first step of the Small and Medium-Sized Enterprise Assistance Program was provided by the Japanese Government in March 2005 and was of 300 million yens, equal to 3,5 million dollars. There were submitted to the contest applications for 60 projects of about 10 million dollars, being selected only 18 enterprises. Until now there were concluded 19 contract of equipment supply for 16 beneficiaries, 50% of the equipment was already delivered. In Moldova are working over 29,000 small and medium enterprises.