First two businesses to be financed within PARE 1+1

The first two applications have been accepted for financing within the Program on Remittance Attraction in the Economy PARE 1+1, Info-Prim Neo reports, quoting Iulia Iabanji, the head of the Organization for the Development of the Small and Medium-Sized Companies of Moldova. Iulia Iabanji said the companies aim to set up and develop businesses in advanced agriculture, wood working, and making of packing for agrifood products. The total cost of businesses, according to the business plans, is 500,000 and, respectively, 380,000 lei. Within the PARE 1+1 Program, the Government provides 1 leu per every invested remittance-originated leu, but not more than 200,000 lei per business. “The applicants have worked abroad for a period and returned home. Now they will receive 200,000 and 190,000 lei respectively. They have certain experience in business and will use the money allotted by the state to buy equipment and develop the production capacities,” said Iulia Iabanji. The training courses within the program last for ten days. The first group of 21 trainees have already finished them. The second group will be trained in February. The PARE 1+l Program launched late last month will last for two years. It is aimed at fostering the setting up and development of 500 businesses, mainly in rural areas. The money will be allocated from the budget and from the resources provided by foreign donors. About 350,000 Moldovans work abroad according to official reports. In reality, this figure is much higher. Last year, the Moldovans sent home US$1.2 billion through banks.