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State to support migrants to develop sustainable businesses in Moldova

14:40 | 19.08.2022 Category: Economic

Chisinau, August 19 /MOLDPRES/- About 40 migrants or their first-degree relatives will access non-refundable financial support from the state up to 250 thousand lei (12.5 thousand euros) for starting or developing a business in the Republic of Moldova. For this, the managers of the companies signed today non-refundable financing contracts with the Organization for the Development of Entrepreneurship (ODA).

The total amount of grants is about nine million lei, and the volume of investments in the economy will be about 22 million lei. "According to the forecasts included in the investment projects, the 38 companies will contribute to the creation or maintenance of 142 jobs. In the current year, 122 companies were selected for financing through this Program", according to ODA.

"Businesses supported through this Program bring migrants back home and create new jobs. In a short time, this support mechanism will be adjusted with a new 1+2 funding component. Companies that have successfully implemented investment projects at the PARE 1+1 stage will be able to benefit from support at the 1+2 component for business development. In total, through this Program, businesses opened by migrants will be able to access non-refundable state funding of up to 750 thousand lei", explained Dumitru Pîntea, interim director of the ODA.

The representatives of the 38 companies selected for financing are migrants working in 11 states. The largest share is held by people who invest the remittances obtained in Great Britain, Italy, Germany, France and Romania. 37 of the grant recipient companies operate in rural areas, being located in 19 districts of the country. Out of the total number of requests for non-reimbursable financing, 30 enterprises are active in the field of agriculture: grain cultivation; growing vegetables in the greenhouse; processing vine plantations, fruit trees; animal husbandry, beekeeping.

The program for attracting remittances in the economy "PARE 1+1" has been implemented by the Organization for the Development of Entrepreneurship since 2010 and aims to mobilize the human and financial resources of Moldovans working abroad in the sustainable economic development of the Republic of Moldova. The program operates based on the "1+1" algorithm, so that every leu invested from remittances is supplemented with a leu in the form of a grant. The amount of the grant is up to 250,000 lei. Beneficiaries of grants can be citizens of the Republic of Moldova, who work abroad and recipients of remittances, first degree relatives.

Photo: ODA

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