About 90 companies in Moldova to benefit from grants from government, European Union, World Bank

The Organization for Entrepreneurship Development (ODA), in collaboration with the Ministry of Economic Development and Digitization announced today 89 companies as beneficiaries of non-reimbursable grants totaling more than 28.5 million lei. Funding contracts aimed at business development, sourced from the Government of the Republic of Moldova, the European Union and the World Bank have been signed.

Funding was accessed through many programs managed by ODA, including PARE 1+2, Green Programs, Female Entrepreneurship Support Programs, Start for Youth, Retooling and Energy Efficiency, Tourism Support, and Competitiveness Growth Programs. It is estimated that these grants will contribute to the creation of about 400 new jobs and the maintenance of another 700 existing ones within the beneficiary companies, while mobilizing significant additional private investments in the national economy.

“Through these grants, we seek to reduce risk, encourage smart investments, innovation, and the adoption of new technologies to enhance the competitiveness of Moldovan businesses. If entrepreneurs wish to do business and develop, it means we also have economic progress,” Deputy Prime Minister, Minister of Economic Development and Digitization Doina Nistor said.

ODA Director Vadim Codreanu provided details on the organization's ongoing efforts.

“We are pleased to support another 89 companies today. This year, we have already signed 220 grant contracts. We are working on strengthening our programs and digitizing processes to facilitate entrepreneurs' access to funding. In addition to grants, ODA also offers other important tools, such as the 373 Program or the Credit Guarantee Fund, to boost investments,” stated Vadim Codreanu.

The event, the third of its kind organized by ODA this year, concluded with information sessions dedicated to beneficiaries regarding the implementation of investment projects and compliance with contractual conditions.

ODA is the main public institution in the Republic of Moldova responsible for supporting the development of the small and medium-sized enterprise sector, providing financial and non-financial support to entrepreneurs in the country.