Twenty eight local companies to get financing up to 250 thousand lei under PARE 1+1 programme in Moldova

Chisinau, 21 June /MOLDPRES/ – A number of 28 companies will be created or developed after receiving grants of up to MDL 250 thousand throughout the Programme for Removing Remittances in Economy (PARE 1+1). On 21 June, the business owners signed, the non – refundable financing contracts for a total amount of MDL 6.73 million (over €336 thousand).

Businesses would generate cumulative investments in economy of almost MDL 17 million providing 69 jobs. Of the total number of applicants for financial non – reimbursable support, 20 are in agriculture, 06 in provision of services and 02 in industry.

Minister of Economy and Infrastructure, Vadim Branzan, has said at the event that the authorities will do their best to improve the programme and identify financial resources for its expansion. "I am proud of people who have the courage to come home and invest in business. We shall work hard to bring as many people as possible home through this investment programme," said the minister.

The acting head of the Small and Medium – Sized Enterprise Development Organisation (ODIMM), Petru Gurgurov, has said that out of 28 businesses, 11 are start – ups and 17 are in expansion phase. Similarly, 09 businesses are initiated or managed by women, and 07 are managed by young people. "The business ideas proposed by migrants will be implemented in 17 districts of Moldova, and one Programme's beneficiary is from Chisinau municipality. The beneficiaries will invest remittances from 10 states: Belgium, Russia, Germany, Ireland, Israel, Italy, United Kingdom, Czechia, Romania and Spain," said Gurgurov.

Since the beginning of 2019, there have been approved 65 investment projects throughout Programme PARE 1+1. In 2019, it is planned an amount of MDL 40 million of the state budget (BS) for implementation of Programme PARE 1+1. Also, for 01 June 2019 – 31 May 2020, the European Union has planned an additional MDL 15 million by means of Programme: Support for small and medium enterprises in rural areas.

The Government programme PARE 1+1 is implemented by ODIMM by financial support of EU. It aims to mobilise the human and financial resources of Moldovan migrant workers in the sustainable economic development of Moldova by stimulating the establishment and development of small and medium enterprises by migrant workers and remittance beneficiaries. The programme activates based upon algorithm 1+1, so that each MDL 01 invested in remittances is supplemented by a grant MDL 01.