World Bank project extended by two years

Chisinau, 2 September /MOLDPRES/- The grant component for Small and Medium Enterprises of the Competitiveness Improvement Project (PAC II) was extended until July 30, 2021. The decision was taken by the World Bank, at the request of the Ministry of Economy and Infrastructure.

The grant component of the PAC II has a budget of about 2.8 million dollars and offers up to 300 thousand lei per economic agent for small and medium-sized companies for contracting business development services and improving export potential. Up to 30% of the grant can be used to purchase equipment.

Through the project, over 100 beneficiary companies increased the volume of the business and created about 340 new jobs, which generated on average exports of over 232 thousand dollars. So far, more than 140 companies have received grants worth 0.9 million dollars.

Most beneficiaries of PAC II are from the agri-food and beverage sector, manufacturing, textiles, services, agriculture, IT and electronic components production.

The most requested business development services, financed by the PAC II, were marketing and promotion. More than half of the grantees applied for financing for branding and corporate identity, design and packaging, development of marketing strategies, development of websites with online stores.

PAC II has a total budget of 45 million dollars and is implemented in 2015-2021. The project aims to improve the business environment by supporting the government in implementing strategies aimed at creating a favorable business environment, reducing constraints and costs for business management.

At the same time, the project contributes to the development of small and medium-sized enterprises by facilitating access to medium and long-term financing.