Moldovan authorities continues financial backing of businesses managed by migrant workers

Chisinau, 24 December /MOLDPRES/ - The Organization for Small- and Medium-Sized Enterprises Sector Development (ODIMM) has approved applications on non-refundable financing for 64 enterprises set up by migrants or their first-degree relatives; the overall sum of financing on behalf of the state is of 15.46 million lei.     

The supervision commission of the Programme on Attraction of Remittances into the Economy (PARE 1+1) today approved the applications on non-refundable financing for 64 enterprises created by migrants or their first-degree relatives; each enterprise will receive 250,000 lei on behalf of the state, in order to open or development its own business in Moldova.

Over a half of the companies beneficiaries of financing will develop business in 27 districts of Moldova in the agriculture sector, 19 businesses will start in the services providing sector and 11 enterprises will work in the processing industry field. According to estimations, following the carrying out of investment projects, about 185 jobs will be created or maintained and the cumulative investments in the national economy will amount to about 38 million lei.   

Those 64 entrepreneurs are to contribute with their part of investment, according to the rule 1+1 from the money earned in 14 states: Germany, United Kingdom, Italy, France, Romania, Russia, USA, Israel, Ireland, Spain, the Netherlands, Greece, Sweden and Ukraine.

Thirty five businesses out of all applications for financing are created by migrant workers and 29 enterprises are constructed by first-degree relatives of the migrants.  

The PARE 1+1 Programme, managed by ODIMM, has the goal to mobilize  human and financial resources of Moldova’s citizens who work abroad in the sustainable development of the country through stimulating the creation and development of small- and medium-sized enterprises. The programme works based on the rule 1+1, so that each Moldovan leu invested from remittances will be supplied by one leu in form of grant within the Programme. The beneficiaries of grants can be citizens of Moldova who work abroad and beneficiaries of remittances, first degree relatives.  

Photo: ODIMM