Economy minister: Donors are ready to provide financing to Moldova under advantageous conditions

The Government of Moldova is willing to attract foreign capital to the economy. Given that the international financial organizations are ready to support Moldova, the capacity of the real sector of the economy should be increased so as to obtain investments, Deputy Prime Minister and Minister of Economy Valeriu Lazar said at a roundtable meeting centering on the possibilities of financing the real sector. “The bilateral and multilateral donors are ready to provide financial resources to Moldova under advantageous conditions. Therefore, the banks should review their assessment instruments and cover the lending risks. On the other hand, the economic entities must present viable business plans and be able to efficiently use the allocated resources,” the Deputy Prime Minister said, quoted by Info-Prim Neo. In this connection, Valeriu Lazar said the guarantee fund will be capitalized, while about US$1.5 million of the US$24 million provided additionally by the World Bank for the Competitiveness Enhancement Project (the agreement was ratified by the Parliament last week – e.n.) will be used to co-finance consultancy services for companies in formulating businesses plans and preparing applications for financing. “On March 24, when Moldova's donors will meet in Brussels, we will ask financial resources to double this sum for developing the consultancy services. Such areas as the construction sector and wine industry need to reorganize production and we should help them,” Lazar said. The Ministry of Economy will set up a consultative-participative council for modernization and development that will involve representatives of the authorities, sectoral associations, the Foreign Investors Association, employers and consultancy companies. The council will discuss the most serious obstacles hindering exports and the attraction of investments. The specialized divisions of the Ministry of Economy will launch an online mechanism for communicating with consultancy companies and swiftly informing them about the decisions and projects concerning the business and investments, the Ministry of Economy says in a communique.