A new grants program of €700,000, benefiting companies, start-ups, and social entrepreneurship initiatives from Cahul and Ungheni regions, has been launched today. The financial assistance to develop the private sector in these two focal regions is provided by the European Union, in the framework the EU4Moldova: Focal Regions Program, financed by the EU and implemented by UNDP and UNICEF, IPN reports, quoting a press release of UNDP Moldova.

EU Ambassador to the Republic of Moldova Peter Michalko said that this new round of grants for SME support will contribute to improving the daily life of citizens from Cahul and Ungheni regions. It will support entrepreneurs to roll out new investments and expand their businesses. “This is possible with EU support of almost €23 million to the Focal Regions program, having the goal to boost inclusive, green, smart, and sustainable economic development,” stated the official.

Twenty-six companies from Ungheni and Cahul Focal Regions will benefit this year from grants of €15,000 to €30,000 each. This is the second call for private sector’s financing, launched by the EU4Moldova: Focal Regions Program. The first round was conducted in 2020, when 28 enterprises, start-ups, and social entrepreneurship initiatives benefited from similar assistance.

The financial assistance may be used to purchase equipment, goods, works, and services to expand the business, promote models of circular economy, create new jobs, and increase the attractiveness of the key regions for new investments. At the same time, the awarded entities will benefit from mentorship, trainings, and coaching to foster entrepreneurial culture.

The detailed contest conditions and the application forms are available on the websites www.eu4cahul.md and www.eu4ungheni.md. The deadline for applications is June 15, 2021, 5pm.