World Bank project of competitiveness enhancement approves 17 funding folders

Chisinau, August 17 /MOLDPRES/ – The World Bank Project Implementation Unit for Improving Competitiveness approved 17 funding folders more. Over 100 files have been accepted up till present, while additional 10 are under scrutiny.

There are four apicultural companies among the new beneficiaries, such as: Individual Company Cucu Vasile, Albina House, Albinaria and Apinord, Hincesti Winery, Viorica Cosmetics, PandaTur tourist company and others. Funding has been provided for business development, product promotion, business modernization and access to new markets, especially the EU.

The Grant Component of the Competitiveness Enhancement Project (CAP II) has a budget of $3 million. The Small and Medium Enterprises in Moldova can benefit from grants for consulting services to improve competitiveness and access new outlets. From the total budget of the project, CAP II will be granted non-reimbursable financing to cover 50 per cent of the cost of consulting services, but not more than MDL 200 thousand per beneficiary. In this way, the economic agents will be able to increase the quality of their products and services, launch new ones, optimize internal processes, improve the company’s image, identify new customers and markets, and establish partnerships on value chains.

Project CAP II will be implemented between 2015 and 2019 with a total budget of $45 million. The project aims to improve the business environment by supporting the Government in implementing strategies aimed at creating a favourable business environment, reducing constraints and costs for business management. Also, the project will contribute to the development of the small and medium-sized enterprises sector by facilitating access to medium- and long-term financing, strengthening ODIMM and MIEPO's institutional capacities, offering private economic advisory services to consultants, contributing to increased export competitiveness etc.

(Reporter V. Bercu, editor M. Jantovan)