New grant program launched in Cahul, Ungheni

Chisinau, 18 May /MOLDPRES/- A new grant program worth 700 thousand euros for enterprises, start-ups and social entrepreneurship initiatives was launched today in Cahul and Ungheni regions. Financial assistance is provided by the European Union under the EU4Moldova: Key Regions Program, funded by the EU and implemented by the United Nations Development Program (UNDP) and the United Nations Children's Fund (UNICEF).

"This new round of grants to support small and medium enterprises will help improve the quality of life of people in Cahul and Ungheni regions. It will support entrepreneurs to get new investments and expand their business. Thus, new jobs will be created, employees' incomes will be increased and the principles of the green economy will be promoted at the same time. This is possible thanks to the EU assistance of almost 23 million euros provided to the EU4Moldova: Key Regions Program to boost ecological, smart and sustainable economic development", European Union Ambassador to Moldova Peter Michalko said.

26 companies from the key regions of Ungheni and Cahul will get grants worth 15-30 thousand euros each this year. This is the second call for funding for the private sector launched by the EU4Moldova: Key Regions Program, the first was in 2020. Then, 28 enterprises, start-ups and social entrepreneurship initiatives received assistance from European funds.

Financial assistance can be used to purchase equipment, goods, works and services in order to develop the business, promote circular economy models, create new jobs, increase the attractiveness of key regions for new investments. The grant program will also be accompanied by free mentoring and training activities to stimulate the entrepreneurial culture of key regions.

photo: UNDP