The Supreme Council
of the Pridnestrovian Moldavian Republic

Official Website

The mechanism must work in full force


The President Vadim Krasnoselsky held a meeting on preferential lending to entrepreneurs. The Chairman of the Supreme Council Alexander Shcherba, head of the parliamentary committee for the development of entrepreneurship and industry Viktor Guzun, Deputy Vadim Doni took part in the discussion. Representatives of the executive branches of power, the prosecutor's office and the banking sector took part in the discussion of issues of significance for the Pridnestrovians, according to the website of the President.

The Supreme Council have been working since March this year on a mechanism for issuing "long" loans at low interest for entrepreneurs who want to try their hand at implementing business projects. Preferential loans were to be issued by the Fund of the PMR's state reserve from technical assistance funds, which the Russian Federation donated to Pridnestrovie after the 2008 drought. Deputies of the Supreme Council made the necessary amendments to the relevant documents, but the mechanism did not work in full force.

The main obstacle, according to the Chairman of the Pridnestrovian Republican Bank Vladislav Tidva, is a change in the mechanism for assessing banking risks. If the assessment was previously given by the bank's specialists, today the supervisory board of the State Reserve Fund does this, for which these functions are uncommon. This point, according to the head of the central bank, needs further development.

The President recalled why it was decided to start lending to small and medium-sized businesses from the funds of the State Reserve Fund.

It was emphasized during the meeting that all the details should be adjusted so that the mechanism of concessional lending would work in full force.

The work continues on the mechanism for granting preferential loans for the purchase of housing under the share construction program. Its essence is in providing affordable housing for budget workers, especially young professionals. Within the framework of the shared construction program, it is planned to rent 360 apartments in Tiraspol alone. At the same time, the demand for housing in the capital is five times higher than the available capacity. Despite the relatively low cost of housing in new homes, for most budget employees it remains unaffordable. Therefore, it was decided to give the program participants the opportunity to obtain preferential loans. It was emphasized during the meeting that it is necessary to develop an understandable and efficient lending mechanism.