Eugeniu Osmochescu
According to him, the project has made significant progress in recent months.
“The initiative was launched in December, and we’ve made rapid progress in implementing it. Already, international development and financing institutions such as the IFC, the EBRD, and others are showing interest in the Fund of Funds. A great deal has been accomplished in just six months—and not just on paper. These solutions are already in place, and each of you can take advantage of the opportunities that are opening up,” Osmochescu stated.
The minister noted that the interest from international financial organizations demonstrates confidence in the new investment instrument, which is designed to attract capital and expand financing opportunities for businesses and investment projects in Moldova.
In addition, Osmochescu reported that the ministry is working on a new institutional and legal model that will eventually allow the Organization for Entrepreneurship Development (ODA) to be transformed into a development bank.
“We want the ODA to evolve first into an investment and development agency and then into a development bank. Institutional and legal mechanisms to implement this idea are currently under discussion,” the minister said.
Today, the ODA implements programs to support small and medium-sized businesses, including those targeting members of the Moldovan diaspora.
As Logos Press previously reported, the Fund of Funds operates within the framework of the Moldovan Fund for Entrepreneurship and Economic Growth (FACEM) and is managed by ODA. The mechanism provides for ODA to offer financial guarantees to investment partners who attract private capital and channel it toward financing small and medium-sized enterprises. For every leu of public funds, investors are required to attract at least three lei in private investment. This new instrument was created to develop the capital market and expand access to financing for startups and small and medium-sized enterprises with high growth potential.
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