59 companies from Moldova benefit from non-reimbursable funding of MDL 25 million supported by the Government and the European Union
The Government of the Republic of Moldova and the European Union, through the Organization for Entrepreneurship Development, support the granting of non-reimbursable funding totalling approximately MDL 246 million to another 59 companies from Republic of Moldova. The total investment in the economy amounts to MDL 544 million.
Out of these, 35 companies will benefit from funds provided by the European Union, totalling MDL 142 million. The Government of the Republic of Moldova will financially support another 22 companies with a total amount of MDL 98 million, while 2 companies will receive funding from the World Bank amounting to MDL 644 thousand.
During the event announcing the beneficiaries, Dumitru Alaiba, Deputy Prime Minister and Minister of Economic Development and Digitalization, stated: “Every lei invested in the creation and development of a business is a direct investment in the future of this country. A business that grows here at home becomes a pillar of local development – creating jobs, offering competitive salaries, and contributing to the community’s well-being. At the same time, by investing in entrepreneurs, we invest in our European path, as businesspeople are the ones who turn innovative ideas into reality. That is why we are and will continue to be by their side through reforms that facilitate their activities and by developing financing options. Together, we are building a stronger economy and a better future for everyone.”
“99% of European businesses are SMEs. The ideas and solutions of the 24 million entrepreneurs in the European Union contribute to a sustainable and digital economy, essential for Europe’s competitiveness. From this perspective, support for the development of SMEs is a priority of the European Union’s assistance to the Republic of Moldova. A successful entrepreneur means vision, a lot of courage, creativity, but also responsibility. A successful entrepreneur has a strong impact on the development of the communities where they operate. A successful entrepreneur has an impact on the quality of life of the people in these communities”, said Jānis Mažeiks, Ambassador of the European Union to the Republic of Moldova.
Vadim Codreanu, Director of the Organization for Entrepreneurship Development, added: “We are grateful for the substantial support provided by the European Union and the Government of the Republic of Moldova. These funds will make a significant difference for our entrepreneurs, facilitating the modernization and expansion of their businesses.”
The grants are distributed through a series of programs managed by the ODA, including the Women’s Entrepreneurship Support Program, the START Program for Youth, the “PARE 1+2” Program, the SME Digital Transformation Program, the SME Retooling and Energy Efficiency Program, the SME Greening Program, and the SME Export Competitiveness and Internationalization Program.
The largest investments are allocated to the industrial sector, with approximately 50% of beneficiaries coming from this area. Another 30% of entrepreneurs will invest in the acquisition of technical means for the development of the services sector, such as professional, scientific, technical, accommodation, public catering, and education activities. About 20% of beneficiaries operate in the agricultural sector, where they will direct the funds towards retooling and greening their businesses.
Since the beginning of the year, the Organization for Entrepreneurship Development has registered a total of 356 companies, facilitating access to grants totalling over MDL 144 million. Almost MDL 116 million of this amount comes from the state budget.