Cahul, Ungheni entrepreneurs develop business thanks to EU assistance

Chisinau, 2 March /MOLDPRES/- About 30 entrepreneurs from Cahul and Ungheni regions benefit from grants worth up to 700 thousand euros, provided by the European Union for the development of the private sector in key regions. Business people were selected in a competition set by the EU4Moldova: Key Regions program, in which 140 entrepreneurs from the two districts entered.

"The EU stands by Moldovan citizens in this difficult period. We are happy to come up with concrete support for local entrepreneurs through the EU4Moldova: Key Regions Program. The EU assistance aims at helping companies survive, support their development, create new jobs, boost economic recovery and improve the business environment. We hope that through joint efforts we will overcome the COVID-19 pandemic as soon as possible, and that the key regions will become areas of prosperity, a reality that will be extended to other localities in the Republic of Moldova ", EU Ambassador to Moldova Peter Michalko said.

Sixteen existing companies, ten startups and two social entrepreneurship initiatives benefit from grants worth 15-30 thousand euros each. Financial assistance will be used to purchase equipment, goods, works and services to grow business, create new jobs and increase attractiveness of key regions for new investments. The grant program will also be accompanied by free mentoring and training activities to boost entrepreneurial culture of key regions.

"UNDP, in partnership with the EU is committed to supporting and encouraging the entrepreneurial spirit of the 28 women and men in both regions, who are investing in reviving the economic sector, creating new jobs and attracting investment in these key regions,” resident representative of the United Nations Development Program (UNDP) in Moldova Dima Al-Khatib said.

This year, a new call for grants will be launched for entrepreneurs from Ungheni and Cahul districts. The total amount of grants for business environment in Cahul and Ungheni regions that will be offered in 2020-2024 under the program is about 1.7 million euros.

The EU4Moldova: Key Regions (2019-2024) program supports smart, inclusive and sustainable social and economic development in Cahul and Ungheni regions to provide citizens with a better quality of life. The program is estimated at 23 million euros, funded by the European Union and implemented by the United Nations Development Program (UNDP) and the United Nations Children's Fund (UNICEF).

photo: EU4Moldova