The Government endorsed the bill to ratify the agreement on Moldova’s participation in the EU program for the Competitiveness of Enterprises and Small and Medium-Sized Enterprises (COSME) that was signed by European Commissioner for Industry and Entrepreneurship Ferdinando Nelli Feroci and the head of Moldova’s mission to the EU, Ambassador Eugen Caras in Brussels on September 29, 2014, IPN reports.
An interministerial council that will be created by the Ministry of Economy will monitor the implementation of the accord.
Running from 2014 to 2020 with a planned budget of €2.3bn, COSME will support SMEs in better access to finance; access to markets; supporting entrepreneurs; and more favorable conditions for business creation and growth. It is capable of releasing up to €25 billion. COSME has succeeded to the Competitiveness and Innovation Framework Program (CIP) that between 2007 and 2013 contributed to mobilizing loans of over €16 billion as well as risk capitals worth €2.8 billion to more than 328,000 European SMEs.
The Government’s decision is to be presented to the head of state for examination.
