Moldovan entrepreneurs financially supported by government, EU in business development; over 60 companies receive grants

A number of 66 companies from Moldova have benefited from grants totaling 24.7 million lei on behalf of Moldova’s government, the European Union and the World Bank Group. The support will stimulate investments of almost 44 million lei in the national economy and will allow the creation of around 500 new jobs.

The money will be used for the acquisition of modern equipment, as well as for optimizing production processes. The funds were accessed through various grant programmes managed by the Organization for Entrepreneurship Development (ODA) in collaboration with the Ministry of Economic Development and Digitalization (MDED).

Thus, the government of Moldova provided 7.77 million lei to 26 companies, while the European Union supports 20 companies with 4.2 million lei. Additionally, 20 companies benefit from grants worth 12.74 million lei through the Local Producers Competitiveness and Integration into Value Chains Programme, funded by the government and the World Bank Group.

Present at the event announcing the beneficiaries, Deputy Prime Minister, Minister of Economic Development and Digitalization Doina Nistor said that the government was building an economic model based on added value, technology, and innovation, a model in which companies develop through smart investments: in high-performance equipment, in digitalization, in solutions that enhance productivity.

“The grants provided today are meant to support this vision and are our way of telling entrepreneurs: we are here, we believe in you, we want you to succeed. Because when you support a company, you actually create jobs, keep families at home and give life to communities. And for us, this is the best investment,” said Doina Nistor.

Adam Grodzicki, Deputy Head of Cooperation Section at the European Union Delegation in Moldova, said that “the prospect of Moldova's accession to the European Union and integration into the Single Market can be a true transformative factor, bringing sustainable benefits for the country's economy and society”.

Aureliu Casian, Executive Director of the World Bank Competitiveness Enhancement Project Implementation Unit (UIPAC), noted that, through investments supported by the World Bank Group, businesses in Moldova become more performant, more efficient and better prepared to export.

“Each entrepreneur who puts in effort, innovates and invests in their business contributes to a stronger economy. Through the grants we manage, the government and development partners support destinies. We support people who create jobs, who give meaning to communities and who transform ambitious ideas into real projects. We believe in entrepreneurs as the sincerest engine of development, and we will continue to be their trusted partner,” said Nina Potînga, ODA’s Deputy Director.

Since the beginning of this year, 471 companies have benefited from grants provided through the ODA, totaling 194 million lei. This support has generated planned investments amounting to over 383 million lei in the national economy.

Out of the total beneficiaries, 293 companies were financed from the state budget, 147 received support from the European Union through the European Union for Small and Medium Enterprises project, and 24 companies were supported by the Program funded by the government and the World Bank Group. At the same time, seven companies benefit from support through the EU4Moldova: Local Communities programme, funded by the European Union, the governments of Germany, Austria, and Poland and implemented by GIZ, ADA, and SFPL in Moldova.