300 new businesses in Moldova to be supported financially by EU

13.07.2023 15:56
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2 minute(s)

A number of 300 small and medium-sized enterprises in the Republic of Moldova, mainly in rural areas, will receive European grant funding through the “EU for SMEs” project (EU4SMEs) to create, develop, expand or internationalize their businesses. For this purpose, the European Union has allocated €8 million in non-reimbursable funding to co-finance seven state programs, implemented by the Organization for the Entrepreneurship Development (ODA), IPN reports.

“The European Union continues to support entrepreneurship in the Republic of Moldova, for the development of the support infrastructure in the regions and support Moldova's integration into the European Economic Area. With the help of assistance programs and constant dialogue, we promote good practices, transparency and respect for democratic principles in the process of economic development,” said Deputy Prime Minister, Minister of Economic Development and Digitalization, Dumitru Alaiba.

Jānis Mažeiks, Ambassador of the European Union to the Republic of Moldova, said the new €8 million grant to support SMEs in the Republic of Moldova will improve access to non-reimbursable funds and provide opportunities for the much-needed productive investment. “The European Union will continue to support the Republic of Moldova to develop a stronger economy,” stated Jānis Mažeiks.

ODA Director Dumitru Pîntea reiterated the impact of European support for local entrepreneurship: “European Union support contributes essentially to meet the real needs of the business environment, to increase competitiveness, modernization, to implement European quality standards and increase business resilience,” stated the ODA Director.

The launch of the European assistance project took place at one of the first beneficiaries of EU assistance - Cabigrup SRL based in Băcioi, which specializes in the production of wine, bottles and decorative boxes for alcoholic products.

On May 24, 2023, a direct EU Grant Contract was signed with ODA for the allocation of €8 million, over the period 2023-2026, to supplement the state budget for 7 non-reimbursable funding programs: PARE 1+2, Start for Youth, SME Greening Program, Digital Transformation Program, Retechnologization and Energy Efficiency Program, Women Entrepreneurship Program and Rural Tourism Program.