Press releases

27 new investment projects created by migrant workers or their relatives will receive financial support through the “PARE 1+ 1” remittances programme managed by the Organisation for Sector Development of Small and Medium Enterprises (ODIMM). The total value of projects is lei 6.66 million, which will subsequently help attract approximately lei 16.13 million in investment in the economy.

The “PARE 1+ 1” remittances programme of the IMMO is a successful initiative with an important impact on the national economy. I am glad to see that more and more citizens are interested in investing and developing business at home. The Ministry of Economy and Infrastructure supports innovative ideas proposed by Moldovan migrants and appreciates their courage to invest in a business", supports Minister Sergiu Railean.

Beneficiaries’ applications were received and evaluated online during the state of emergency, and the financing contracts were signed taking all precautionary measures and complying with hygiene and social distancing rules against the spread of the COVID-19 virus.

Of the total number of companies accepted for financing, 74.1 % operate in the country’s 16 races and 25.9 % in mun. Chisinau. In the City of Chișinău respectively, 7 undertakings are active, 3 – in UTA Găgăuzia and Florești, 2 undertakings – in Telenești raion and one company each – in Fălești, Edineț raios, Basarabeasca, Rezina, Ocnița, Hâncești, Rhine, Orhei, Ialoveni, Cantemir, New Years and Căușeni.

‘Pare 1+ 1’ is the first programme of the SME DSO portfolio that has started to provide entrepreneurs with non-repayable funding for business initiation or development. Over the years, thousands of people who managed to develop profitable businesses, grow and promote locally and internationally with competitive products were supported. I am fully convinced that today’s 27 beneficiaries will turn challenges into opportunities and over time their business will turn into successful histories", mentioned Iulia Costin, Director General ODIMM.

Most of them, 15 in number, operate in agriculture, 9 companies are service providers and 3 enterprises are manufacturing.

Of all investment projects, 13 businesses are newly created and 14 companies are in the expansion phase, while 9 businesses are created by migrant workers, who have returned from abroad, and 18 companies – by migrant grade I relatives.

The 27 beneficiaries will invest remittances from work in 11 countries: Italy – 9, UK – 5, France-3, 2 USA and Israel each, and one applicant each from Russia, Canada, Spain, Germany, Ireland and the Czech Republic.

Over the current year, another 53 business totalling lei 12.93 million was accepted for financing, which will favour investment in the economy amounting to about lei 35.49 million.

So far, a total of 2941 people have been registered in the Programme and 2410 beneficiaries have been trained. The “PARE 1+ 1” programme facilitated access to non-repayable financing for 1,623 enterprises worth lei 335.19 million. The total value of planned investments in the economy is over lei 1.0 billion, so that every leu in the form of grants generates approximately lei 3 investments in the economy. The programme is subsidised by the State budget and supplemented by European Union funds through the ‘support for SMEs in rural areas’ project.

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