PARE 1+1 provides non-reimbursable financing to about 50 project participants

Since November 2010, when the PARE 1+1 program for attracting remittances to the national economy was launched, the Organization for the Development of Small and Medium-Sized Enterprises (ODIMM) has signed 49 contracts for starting businesses in rural areas with persons who worked for a period abroad and returned home or with their first-grade relatives, Info-Prim Neo reports. According to the Ministry of Economy, which controls the ODIMM, investments of 23.7 million lei were made in these businesses. Of this sum, 14.93 million lei represented the savings of migrants or their relatives, while 8.84 million lei – non-reimbursable financing provided from the state budget. Every 1 leu invested by a Moldovan migrant or his/her 1st grade relative is coupled with another 1 leu from the state for launching a new private enterprise, or the development of an existing enterprise. The state offers at most 200,000 per business. About 180,000 lei in non-reimbursable assistance was provided for a business at the first implementation stage. Businesses have been started in agriculture, food industry, woodworking, furniture making and other areas. PARE 1+1 is a pilot program that aims to mobilize the financial and human resources of the migrant workers for developing the country’s economy. Within the program, more than 1 500 persons received training in managing small businesses.

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