PARE 1+1 programme on attraction of remittances to economy extended by another 3 years in Moldova

Chisinau, 29 December /MOLDPRES/ – The PARE 1+1 Programme has been extended till late 2024. To implement the programme, the Economics Ministry envisaged financial means worth 30 million lei annually for the period 2022-2024. A decision to this effect was approved at a cabinet meeting today, the government’s communication and protocol department has reported.     

The PARE 1+1 Programme on Attraction of Remittances to Economy is meant for the migrant workers or their first-degree relatives, who invest financial means got abroad for the starting of extension of a business in Moldova. 

The candidates for the programme attend courses in the field of entrepreneurship, so that subsequently, they can get a grant worth up to 250,000 lei. PARE 1+1 sees that each invested Moldovan leu from remittances should be supplied with one leu on behalf of the programme.    

In 2010-2021, the following results have been registered within the programme:  

- 2, 649 people were trained;   

- 1, 815 investment projects were approved for financing;   

- 739 new businesses were started, which accounts for 41.6 per cent of all beneficiaries of the Programme;  

- 564 migrant workers returned home and started a business;  

- 48.70 per cent of entrepreneurs were young people with ages up to 35 years;    

- 1, 524 beneficiaries (84 per cent) carry out their work in villages and towns of Moldova and 16 per cent of the enterprises are recorded in the Chisinau and Balti municipalities.    

Migrants working in more than 35 states are among the participants in the Programme. The biggest share belongs to people who invest remittances got in Italy, Russia and the United Kingdom. It is worth mentioning that 32 per cent of all beneficiaries of PARE 1+1 are women, respectively 571 enterprises are set up and/or managed by women.   

Thirty four enterprises (53 per cent) out of all applications for non-refundable financing work in the agriculture sector: cereals’ cultivation, breeding vegetables in greenhouses, processing of vine plantations, plantations of nuts, plums, as well as in apiculture and animal husbandry.   

Another 19 business (30 per cent) are started in the field of providing services: activities of accommodation and public nourishment, transport services, maintenance and repair of vehicles, health and social assistance, constructions and 11 enterprises (17 per cent) work in the processing industry, having as activity kind the manufacture of clothes, pottery objects, processing wood, etc.     

The PARE 1+1 Programme is implemented by the organization for Small- and Medium-sized Enterprises Sector Development (ODIMM) in 2010, and is aimed at mobilizing the human and financial resources of Moldovans working abroad for the sustainable economic development of Moldova, stimulating, at the same time, money transfers by official means.     

The programme is financed from the state budget and supplied from European Union’s funds.

At the same time, the project sees allocations of shares of intermittent capacities of generation, such as photovoltaic and wind stations of 250 MW, as well as non-intermittent technologies, such as cogeneration and hydro-power installations of 150 MW, for period of time announced.    

Photo: Government