Press releases

Initiative EU4Business, with around 30 regional and bilateral projects, has helped more than 6300 Moldovan small and medium-sized enterprises to grow through grants, loans, bank guarantees and advisory services. European Union support to companies resulted in 8350 jobs created and increased revenues of around EUR 87 million. The turnover of beneficiaries’ companies increased by 13 % and exports by 10 %.

The results were announced in a presentation to Cahul’s economic operators of European Union funded support programmes run by the Organisation for the Development of Entrepreneurship (ODA).

‘In July 2021, the European Commission launched a new Economic and Investment Plan in the Eastern Partnership countries with 5 major initiatives. They focus on developing a resilient, innovative and green economy. By 2027, we will support 50 thousand SMEs in Moldova. And thanks to the success of the Entrepreneurship Development Organisation in running its predecessor programmes, we are now discussing a new grant agreement with ODA that will also allow for more beneficiaries to be covered.“declared at the event Boris Filipov, Project Officer for Economic Development at the Delegation of the European Union to the Republic of Moldova.

Between 2018 and 2020, ODA carried out three programmes with the financial support of the European Union, PARE 1 + 1, Women in Business and the Digital Business Transformation Programme, for which EUR 4.25 million were allocated. According to Oxana Otgon, the Directorate for Start-Up Finance under ODA, 564 companies received grants, vouchers, training and free development advice under the three programmes, resulting in the creation of 1582 jobs. EU funding has attracted total investment of over EUR 8 million in the economy.

‘It is to be welcomed that part of the funding from the European Union that our company has received is provided for business development services, which are now very important in the age of digitalisation, which has greatly helped us to make our brand life and style“, said Valentina Buhnei, owner of Flavoria SRL in Nisporeni, a company specialising in the production of dehydrated fruit, vegetables and seeds. The company received the support of the Entrepreneurship Development Organisation and the European Union through the Women in Business programme to procure machinery to increase production volumes – a dehydrator, convection oven, oven trays, teflon sheets and furniture.

At the same event, Marin Ghenciu, Deputy Director of ODA, presented the organisation’s new or updated programmes and services offered to entrepreneurs in the country.