WORLD BANK EXTENDS ITS GRANT COMPONENT FOR MOLDOVAN SMEs

The grant component for Moldovan small and medium enterprises within the MD Second Competitiveness Enhancement Project (PAC II) has been extended until July 30, 2021, as per the decision taken by the World Bank in response to the inquiry made by the Moldovan Ministry of Economy and Infrastructure. The decision stipulates also the increasing of co-financing ceiling up to 300,000 lei to thus ensure the Moldovan economic operators’ access to funding within the Exports Enhancement Project.

According to the Ministry, thanks to this project over one hundred beneficiary companies have broadened their businesses, created 340 jobs, and the average volume of their exports has exceeded US$232 thousand. Until now, over 140 companies have received grants totaling US$0.9 million.

A majority of the PAC II beneficiaries represent the country’s agricultural sector and the production of beverages – 31%, food processing sector – 20%, textiles – 14%, information technologies and electronic component production – 9%.

The grant component of the MD Second Competitiveness Enhancement Project has a budget of nearly US$2.8 million and offers up to 300,000 lei for concluding contracts on services to develop businesses and to raise the export potential. Up to 30% of this sum may be used for purchasing equipment.

Services in the highest demand are the marketing and promotion. More than a half of grant recipients applied for financing of branding and company style, design and packaging, for working out of marketing strategies and of websites with Internet shops. Other services wanted by beneficiaries pertain to certification in the sphere of quality management systems, information systems, market researches, and optimization of internal processes.

The Ministry of Economy and Infrastructure has called on economic agents to submit applications for taking part in the program so that to raise export competitiveness and find new markets.

The 2015-2021 MD Second Competitiveness Enhancement Project has a budget of US$45 million.