The first 41 companies launched by Moldovan migrants or their first-degree relatives will receive state funding of up to 250,000 lei for starting or developing a business in Moldova. The investment projects submitted by the diaspora representatives were approved by the Supervisory Committee of the PARE 1+1 Program, managed by the Organization for the Development of the Small and Medium Enterprises Sector (ODIMM).

The total amount of grants is about 10 million lei, and the amount of investments in the economy is estimated at  about 24 million lei. According to the forecasts included in the investment projects, the 41 companies will employ 150 people, including 70 young people and 40 women, according to a press release from the Ministry of Economy.

“Currently, we are continuously receiving applications and investment projects for the PARE 1+1 Program to attract remittances to the national economy and to support the return of migrant workers home," said ODIMM acting director Dumitru Pîntea.

The managers of the 41 companies selected for funding are migrants working in more than 15 states. The largest share is held by people who invest remittances obtained in Italy, Romania, the UK and Germany.

About 80 percent of the beneficiary companies operate in rural areas, being located in 23 districts of the country. Of the total number of applications for grants this year, 21 are operating in agriculture. Another 15 businesses are in the field of service provision, and five companies operate in the manufacturing industry.

The PARE 1+1 program has been implemented by ODIMM since 2010. The program operates on the basis of the 1+1 formula, where each leu invested is supplemented by one leu in the form of a grant. The amount of the grant is up to 250,000 lei. Eligible are Moldovans working abroad and beneficiaries of remittances, in particular first-degree relatives.