Moldova to increase the irretrievable financing for migrants who have returned to start a business
In accordance with the decision taken by the Government of Moldova on 10 August 2017, the maximum amount of the grant, allocated from the Program for Attracting Money Transfers to the Economy of Moldova (“PARE 1 + 1”), is increased by 50 thousand lei.
Thus, migrants returning to their homeland to open their own business will receive irretrievable support from the state in the maximum amount up to 250 thousand lei (nearly 14 thousand USD). Earlier this ceiling was 200 thousand lei.
The authorities argue that the increase of this grant ceiling is recommended by the experts of the European Union in order to increase the effectiveness of the program. At the same time, the authors of the project note that the recipients of grants, expanding their business, face financial difficulties due to the depreciation of the national currency by almost 30%. As a result, their investments far exceed the allocated grant.
Last year, more than 340 Moldovans received irretrievable financing for the development of their business and the project budget amounted to almost 67 million lei.