Prime Minister Dorin Recean Applauds ‘373’ Program with Half a Billion Lei Invested in SMEs

Prime Minister Dorin Recean, along with key officials, celebrated the success of the “373” Entrepreneur Support Program. Launched just four months ago, the program has already made a significant impact, with nearly half a billion lei invested in the development of small and medium-sized businesses.

Recean expressed gratitude to entrepreneurs for their role in the country’s economic growth and highlighted the positive results. Over this short period, approximately 100 small and medium-sized enterprises have received over 400 million lei in loans, fostering increased productivity and a 20% job growth on average. This, in turn, has created new opportunities for local development.

“Our goal is to encourage medium and long-term investments across all sectors of the national economy, generating more jobs and increased productivity. This will enable us to provide higher incomes for healthcare professionals, teachers, and retirees,” stated Prime Minister Dorin Recean.

Minister of Digitalization and Economic Development Dumitru Alaiba stressed that the “373” program is a collaborative effort between the government, the banking sector, and the private industry, aimed at national economic development and growth.

“The state’s role is to streamline business processes, provide financial access, open new markets, and boost exports, all to support our top priorities,” Minister Dumitru Alaiba declared.

Entrepreneur Victoria Rusnac, who runs a honey production business, cited the program’s favorable credit as a game-changer, significantly enhancing her company’s productivity and enabling the export of “Honey House” honey to Germany, the USA, Japan, and Canada.

“Within a week of program launch, our preferential credit was approved. We acquired new equipment and increased honey processing capacity, underscoring our belief in Moldova’s growth potential,” Rusnac shared.

Currently, businesses from various sectors and regions, including agriculture, healthcare, transportation, and energy, have benefited from the “373” program, which subsidizes interest rates on investment loans by up to 3% for foreign currency loans and 7% for local currency loans.

In the coming year, the government aims to raise the loan ceiling to 30 million lei and provide credit guarantees for businesses with limited collateral. Furthermore, specific grant components will be introduced to support young entrepreneurs, women-led businesses, artisanal producers, rural tourism development, and other sectors, promoting economic expansion in Moldova.

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