Press releases
59 companies in the Republic of Moldova benefit from around lei 25 million in non-repayable funding, supported by the Government and the European Union
Chisinau, 28 August 2024 The Government of the Republic of Moldova and the European Union support, through the Organisation for the Development of Entrepreneurship, grants totalling approximately lei 24.6 million for other companies in Moldova. Total investment in the economy amounts to lei 54.4 million.
Out of these, 35 companies will benefit from EU funds, totalling lei 14.2 million. The government of the Republic of Moldova will financially support 22 companies with a total amount of lei 9.8 million, while two companies will receive financing from the World Bank amounting to lei 644 thousand.
At the announcement event of the beneficiaries Dumitru Alaiba, Vicepremier and Minister for Economic Development and Digitalisation, said: ‘Each leu 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 – creates jobs, offers competitive wages and contributes to the well-being of the community. At the same time, investing in entrepreneurs, investing in our European path, it is business people who make innovative ideas a reality. That’s why we are and will continue to be alongside them through reforms to facilitate their work and by developing financing options. Together, we are building a stronger economy and a better future for all.‘
“99 % of European companies are SMEs. The ideas and solutions of the 24 million entrepreneurs in the European Union contribute to a sustainable and digital economy, which is 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, much courage, creativity, but also responsibility. A successful entrepreneur has a strong impact on the development of the communities in which it operates. A successful entrepreneur has an impact on the quality of life of people in these communities”said Jānis Mažeiks, Ambasador of the European Union in the Republic of Moldova.
Vadim Codreanu, Director of the Organisation for the Development of Entrepreneurship, added: ‘We are grateful for the considerable 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 modernisation and expansion of their businesses.”
Grants are distributed through a number of programmes, managed by ODA, including the Women Entrepreneurship Support Programme, the START Programme for Young, the “PARE 1+ 2” Programme, the Digital Transformation Programme of the HEI, the SME Repowering and Energy Efficiency Programme, the Programme for the Greening of Small and Medium Enterprises, and the Programme to increase export competitiveness and internationalisation of SMEs.
The largest investments are allocated to industry, with around 50 % of beneficiaries coming from this industry. Another 30 % of entrepreneurs will invest in the acquisition of technical means for the development of the service sector, such as professional, scientific, technical, accommodation, catering and education activities. Around 20 % of beneficiaries are active in the agricultural sector, where they will direct funds towards repowering and greening their businesses.
Since the beginning of the year, the Entrepreneurship Development Organisation has recorded a total of 356 companies, making it easier to access grants totalling more than lei 144 million. Almost 116 million RON of this amount comes from the state budget.
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