This piece of work is motivated by the necessity of tackling the subject of the ways of financing innovational projects, as well as their economic efficency. For Republic of Moldova, as for other European states, inovations are an essential factor for economic and social progres. Financing inovations results in the diversification and the qualitative growth of all production factors, the supplementing of the number of workplaces, the increase in productivity and work effincency, the renewal of production. Thus, financing inovations is a decisive element in conquering the market and mantaining the competitiveness of autochthonous companies and national economy, oriented towards European integration. Furthermore, inovations are a important factor in stimulating the investitional process because investements are the material suppport for inovations. Economic substantiation of decisions regarding financing investements in inovations is very important because the increase of economic efficency depends largely on the quality, the size and the distribution of investments.