Grants for development of local business in Moldova: 79 companies to receive non-refundable financing of 35.5 million lei

A total of 79 local businesses will receive grants amounting to 35.5 million lei, which will generate investments of over 58 million lei into the national economy and contribute to the creation of around 300 new jobs.

The non-refundable financing is provided by the government of Moldova, which contributes 18.05 million lei for 61 companies. Additionally, 18 companies benefit from grants totaling 17.5 million lei through the Programme for Increasing the Competitiveness of Local Producers and Integration into Value Chains, funded by the government and the World Bank Group.

The beneficiary companies currently provide employment for 686 people, and with the implementation of the funded projects, they will generate at least 298 new job opportunities in their communities. The support provided contributes to enhancing economic competitiveness, raising salaries and the strengthening the potential of the local development.

Present at the event announcing the grant beneficiaries, Secretary of State of the Ministry of Economic Development and Digitization Natalia Selevestru said that developing a modern and resilient economy of Moldova was built through investments in people, ideas and private initiative.

“Entrepreneurs are those who translate public policies into concrete results, and our mission, as a state, is to provide them with real tools for growth and competitiveness. Through well-directed support programmes and constant dialogue with the business environment, we lay the foundations for an economy that creates opportunities, strengthens local communities and provides sustainable prospects for future generations. Moldova can and must be a place where work, innovation, and courage are rewarded,” said Natalia Selevestru.

Aureliu Casian, the executive director of the World Bank Competitiveness Enhancement Project Implementation Unit, said that a strong and competitive private sector was the foundation of sustainable economic growth.

“Through our interventions, we aim to support enterprises of Moldova to invest, innovate and expand their activities to wider markets. Strengthening access to financing, creating a predictable business environment, and supporting productivity growth are essential. These combined efforts directly contribute to creation of jobs and long-term income increase,” emphasized the official.

Vadim Codreanu, the Director of the Organization for Entrepreneurship Development (ODA), highlighted the importance of integrated utilization of government programmes and tools and encouraged local entrepreneurs to apply for programmes managed by the ODA to access funding.

“Today, ODA offers a comprehensive growth ecosystem for entrepreneurs. We provide solutions that can transform investment plans into solid and competitive businesses,” emphasized Vadim Codreanu.

Since the beginning of the year, 810 companies have benefited from grants provided through the Organization for Entrepreneurship Development, totaling 346.4 million lei. This support generated planned investments worth over 653 million lei into the national economy.

Out of the total beneficiaries, 536 companies were funded from the state budget, 156 received support from the European Union through the European Union for Small and Medium Enterprises project, and 111 companies were supported through the programme funded by the government and the World Bank Group. Additionally, seven companies benefited from support through the EU4Moldova: Focal Communities programme, funded by the European Union, the governments of Germany, Austria, and Poland, and implemented by the German Agency for International Cooperation (GIZ), ADA, and Solidarity Fund PL in Moldova.