Amount of the non-reimbursable financing granted in Program PARE 1+1 to be increased by MDL 50,000

16:37 | 10.08.2017 Category: Economic

Chisinau, 10 August /MOLDPRES/ – The maximum amount of non-reimbursable financing allocated from the Program for attracting remittances to PARE 1+1 economy was increased by a Government decision, adopted today, from MDL 200 thousand to MDL 250 thousand. Thus, migrants or their relatives who ask for state support will receive more money to start or develop a business.

The increase of the non-reimbursable financing ceiling was recommended in the Study on the efficiency of Program PARE 1+1, elaborated by experts of the European Union within the framework of the Free Trade Agreement with the EU support.

The authors of the project explain this change by the fact that after the launch of the Program in 2010 the national currency devalued by 25-30 per cent, while about half of the beneficiaries expand their business and encounter major financial difficulties related to the shortage of money and the high costs. The authorities found that, on average, for one leu obtained in the form of a grant, it is invested three lei in the business development, which shows that, de facto, investments in business creation and development are much higher than the grant offered.

According to the Ministry of Economy and Infrastructure, there were concluded 346 financing contracts worth MDL 66.97 million in 2016, which will stimulate investments in the national economy of MDL 248.5 million.

At the same time, the necessary documents for participation in the program will be optimized and there will be one document to be submitted. However, for the training and entrepreneurship support component, the applicants will submit a request for participation in the Program. The certain documents requested from the entrepreneurs who are funded were also excluded.

The program PARE 1+1 was approved in 2010 and is intended for migrant workers and/or first-degree relatives who want to invest in launching and/or developing their own businesses.

(Reporter V. Bercu, editor M. Jantovan)

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