€25 million worth of grants for developing SMEs and urban infrastructure

Moldova will benefit from non-reimbursable financial assistance in the amount of €24.7 million from Germany for projects to develop small and medium-sized enterprises and urban infrastructure. The Cabinet approved the draft decision on the initiation of negotiations and approval of the agreement, drawn up by exchanging notes with the German Government, IPN reports.

Minister of Infrastructure and Regional Development Andrei Spînu said that it goes to the agreement with the Government of the Federal Republic of Germany on financial cooperation for financing four projects. “The beneficiaries of these funds will be both the Ministry of Economic Development and Digitalization and the Ministry of Infrastructure and Regional Development, as regards water projects. This amount is offered in the form of a grant,” said the minister.

The €24.7 million will be provided by the Credit Institute for Reconstruction (KfW).

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