MOLDOVA STARTS NEGOTIATIONS WITH BANK GOSPODARSTWA KRAJOWEGO ON €5 MILLION LOAN FOR FACEM FUND

Moldova is ready for negotiations with the Bank Gospodarstwa Krajowego of Poland on a €5 million loan. Profiled parliamentary standing committee approved a consultative conclusion on starting negotiations for obtaining such a loan intended for the Fund for Entrepreneurship and Economic Growth (FACEM). With the help of the Fund’s means, the RM authorities intend to finance projects of small and medium-sized businesses on favorable terms. The Loan Agreement with the Polish bank is supported by a special grant from the European Commission. This implies that the 5 million euros will be provided by the lender for a period of seven years, including a grace period in payments and interest payments during the first year of lending.