Moldova will receive 50 million dollars from the World Bank for the development of small and medium-sized enterprises

The World Bank will provide Moldova with $50 million for the development of small and medium enterprises. This was announced on April 6 by Minister of Economic Development and Digitalization Dumitru Alaiba and Head of the World Bank Office in Moldova Inguna Dobraya.

Dumitru Alaiba said that economic development is a priority of the Government, and external partners provide all the necessary support to Moldovan enterprises.

“The financing project includes the digitization component of government services for enterprises, so that entrepreneurs do not waste time and money on bureaucratic procedures. At the same time, the State Register of controls should be updated, the inspectors should be equipped with equipment and we should undertake more actions that will eliminate corruption during controls. Modernization of the entrepreneurs’ laboratories is foreseen, so that they can certify the products more easily and cheaply in order to be able to access the export market. Another important measure is the access to finance component. We propose to use the loan guarantee fund, and 15 million dollars will be allocated to guarantee loans granted to SMEs. Also, 13 million dollars will be granted for the development of enterprises and the increase of export competitiveness”, said Alaiba.

The head of the World Bank office in Moldova also noted the importance of developing the business environment in Moldova.

“We are glad that we can provide this support. Cooperation in this area is extremely important, we have an excellent interaction. At the same time, assistance should help the government achieve important results in this area”, said Inguna Dobraja.

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