BUDGET PLUS // More grants for entrepreneurs of Moldova: 100 million lei to be additionally allocated by government for programmes of Organization for Entrepreneurship Development

A sum of 100 million lei from the Budget +PLUS project will be additionally allocated by the government for the grant programmes managed by the Organization for Entrepreneurship Development (ODA). The funds will be used to support entrepreneurs of Moldova, who will benefit from non-refundable financial resources for business development. The funds come from the package of 1.9 billion euros, provided to Moldova by the European Union.

Contacted by MOLDPRES, the deputy director of ODA, Nina Potinga, said that the additional allocation of 100 million lei would allow ODA to support more entrepreneurs from various regions of the country, especially from rural areas, in their efforts to modernize their businesses, digitalize processes and create sustainable jobs.

“The additional allocation of 100 million lei through Budget PLUS will allow a significant expansion of the impact of the grant programs managed by ODA. With these resources, we will be able to support more entrepreneurs from various regions of the country, especially from rural areas, in their efforts to modernize their businesses, digitalize processes and create sustainable jobs. The initiative is a clear signal that entrepreneurship’s development is a priority for the government of Moldova and the European Union. We will direct the funds transparently and efficiently, so that each Moldovan leu invested generates value added in the economy and contributes to the competitiveness of Moldovan small and medium-sized enterprises (SMEs),” said Nina Potinga.

In total, through Budget PLUS, an amount of 200 million lei will be distributed for backing entrepreneurs and developing industrial infrastructure. Of this amount, 100 million lei will be meant for supplementing the budget for providing non-refundable financial support to ODA, and another 85 million lei is meant for strengthening the Credit Guarantee Fund, which will facilitate access to financing SMEs. At the same time, 15 million lei will be distributed for the creation of Multifunctional Industrial Platforms, with the aim of attracting investments in value-added sectors.

The Ministry of Economic Development and Digitalization has announced that the support provided through the Growth Plan confirms the European Union’s firm commitment to stand by Moldova.

In last May, 80 local entrepreneurs accessed grants totaling 22.3 million lei from Moldova’s government and the European Union, through several Programmes  managed by ODA. The money will be used for purchasing high-performance equipment and digitalizing processes. The support provided will generate investments worth over 42.1 million lei in the economy and will allow business development and the creation of new jobs.

Also, in June, another 54 local entrepreneurs accessed grants totaling 18.3 million lei through ODA Programmes, which will generate investments of over 39.5 million lei in the economy.

Since the beginning of the current year, 354 local companies have received grants through ODA, totaling 139.1 million lei. This financial support will generate investments of over 288.6 million lei in Moldova's economy.

Budget Plus was presented by Prime Minister Dorin Recean in early last April and is the largest financial package ever allocated by the government of Moldova for investments and economic growth. It includes financial resources totaling 8 billion lei. Prime Minister Dorin Recean emphasized that the resource allocations had been possible due to the support on behalf of the European Union, as well as the public service employees who collaborated with European partners, in order to accelerate the transfer of the first installment from the Growth Plan for Moldova and the preparing to fulfill this budget.

Through the Growth Plan, Moldova will benefit from a financial package of 1.9 billion euros: 400 million euros in grants - free aid from the EU, money that does not need to be repaid and 1.5 billion euros – loans on easy terms.