Moldova offers returning citizens grants to establish small businesses

A number of 54 migrant workers or their first degree relatives will get grants to start or develop business through the PARE 1 + 1 Programme.

Beneficiaries will receive non-refundable financing up to 250 thousand lei.

Attending the event, Iulia Costin, state secretary of the Ministry of Economy and Infrastructure said that in recent years the authorities have taken several actions to facilitate the work of small and medium-sized enterprises. These include implementation of single window, launch of several funding programs dedicated to entrepreneurs, reduction of the number of control bodies and permissive acts.

The PARE 1 + 1 programme is meant for migrant workers and / or first-degree relatives who want to invest in starting and / or developing a business. It operates under the 1 + 1 rule, so that each leu invested from remittances will be supplemented with a leu in the form of a grant. The government has recently decided to extend the program by another three years by 2021. According to the medium-term budgetary framework for 2019-2021, 40 million lei will be allocated annually to finance the programme, which will allow the co-financing about 480 businesses of migrant workers and/or first-degree relatives.

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