PARE 1+1 COMMITTEE APPROVES FINANCING FOR 44 ENTREPRENEURS

The Program on Attracting Remittances into the Economy PARE 1+1 will provide 10.62 million lei to 44 Moldovan entrepreneurs for implementing their projects. A corresponding decision was taken by its supervisory committee.

According to the Ministry of Economy and Infrastructure, the contribution of the very beneficiaries will account for 28.2 million lei, they will create over 100 new jobs.

31 grant beneficiaries are involved in agriculture and intend to direct the funds to cultivating grains, vegetables in greenhouses, in planting vineyards, animal husbandry. The other nine intend to develop businesses in the field of recreation industry, building, healthcare, providing of mill services and car-repair and maintenance services. Four entrepreneurs decided to engage in business in the field of processing.

According to the Organization for Small and Medium Enterprises Sector Development of Moldova (ODIMM), 43% beneficiaries are using the received funds for extending the production, while 57% – for launching a new business. 16 projects will be launched by migrants, who earned money abroad and returned home, while 28 – migrants’ closest relatives. Almost one-half of beneficiaries are young people, while one-third – women.

Minister of Economy and Infrastructure Chiril Gaburici said that the PARE 1+1 program is an efficient instrument for attracting funds in the Moldovan economy.

“The program is interesting for migrants. I personally know a whole number of people, who with the help of the program managed to start their own profitable business. We will seek other ways to return our compatriots from abroad to engage in entrepreneurship at home”, he said.

Infotag’s dossier: The PARE 1+1 Program was launched in 2010 for a period of 5 years, while then the Government extended it till 2018. It is designed for migrant workers and/or their relatives of first degree of consanguinity, who want to invest and/or start their own business. It implies the providing of money for opening or developing personal business in the home country on the basis of 1 leu per each invested leu, but not more than 200 thousand lei.

Over the time of program functioning, 1136 enterprises benefited from its assistance. Their contribution in the economy accounted for 697.97 million lei, 215.8 million of which are program grants. Thus, the Government allocated 1 leu per each 3.23 lei of beneficiaries’ investments.