Approximately 30 businesses will be started and developed through the agency of the Program to Attract Remittances to the Economy (PARE 1+1). The entrepreneurs will receive up to 250,000 lei in non-reimbursable assistance. The beneficiaries on June 21 signed financing contracts to the total value of 6.73 million lei, IPN reports.
According to a press release of the Organization for Small and Medium-Sized Enterprises Sector Development, the entrepreneurial activity of companies will generate investments of about 17 million lei in the economy and will ensure the creation of almost 70 jobs.
Of the beneficiaries of financing, 20 work in agriculture. Six businesses will operate in the service sector, while two in industry. Nine businesses were started and are managed by women, while seven will be run by young people.
Since the PARE 1+1 program was launched, there were approved 65 investment projects. A sum of 40 million lei was earmarked in the 2019 state budget for implementing the program. For June 1, 2019 – May 31, 2020, the EU planned to additionally allocate 15 million lei through the Rural Small and Medium-Sized Enterprises Support Program.
The PARE 1+1 program works based on the “1+1” formula under which 1 leu invested from remittances is supplemented with 1 leu in the form of grant.
