PARE 1+1 approved 44 grant applications worth 10.62 million lei

The PARE 1 + 1 Surveillance Committee Supervision Committee approved 44 grant applications submitted by companies created or developed by emigrants or their relatives in a total amount of 10.62 million lei, today. According to estimates, over 100 new jobs will be created, and the cumulative investments in the national economy will be worth 28.20 million lei.

"The PARE 1 + 1 program is an efficient tool for attracting financial resources to the Moldovan economy. For the Ministry of Economy and Infrastructure attracting investments is a priority. In addition, it creates a positive image of the country. I appreciate that the Program has an active interest among migrants. I know people who, with  PARE 1 + 1 support launched a business. I am enjoying the growing interest in the PARE 1 + 1 grants, so I want to find other ways to bring our citizens home and to support them to launch business ",said Chiril Gaburici, the minister of Economy and Infrastructure.

Of the 44 enterprises approved for non-repayable financing, 43% are in the expansion / development phase of the business, and 57% are startups. At the same time, 16 businesses are created by emigrant workers who have returned from abroad, and 28 - the first degree relatives of emigrants. Statistical data shows that almost half of the businesses are created and administered by young people and a third of women.

Businesses are located in 22 districts and Chisinau municipality. Most applicants, 31 in number, will invest in agriculture: growing cereals and vines, vegetables in protected areas, livestock breeding and business development in apiculture. Other nine beneficiaries will provide recreational, construction, health and social welfare services, milling and car repair services. Four beneficiaries concentrated their activity in the processing industry and the agro-food sector: manufacture of textiles / apparel / leather, wood processing, pelleting and biscuit production.

An analysis of the origin of remittances shows that the 44 applicants invested the money from the work done in Italy - 20 applicants; Russia - 12 applicants; United Kingdom - 3 applicants; USA - 2 applicants and one applicant from Romania, Belgium, Germany, Israel, France, Portugal and Spain.

According to a study conducted by ODIMM, 1136 enterprises benefited from access to finance during the "PARE 1 + 1" Program. Investments in the economy are estimated at over 697.97 million lei, of which about 215.8 million lei represent the amount of grants approved under the Program. Thus, each leu transferred from the Program attracts about 3.23 lei of investments in the economy.

The PARE 1 + 1 program aims to mobilize the human and financial resources of Moldovan emigrant workers in the sustainable economic development of the Republic of Moldova by stimulating the establishment and development of small and medium enterprises by migrant workers and remittance beneficiaries. The program operates on the basis of the "1 + 1" rule so that each leu invested in remittances will be supplemented with a leu in the grant form of the Program. Beneficiaries of grants may be migrant workers, citizens of the Republic of Moldova and recipients of remittances, first degree relatives.

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