The maximum amount of non-reimbursable funding offered to beneficiaries under the Remittance-based Investment Program PARE 1+1 has increased from 200,000 to 250,000 lei, following changes adopted by the Government on Thursday.
The increment was recommended by European experts in a study carried out to improve the results of the Program. The study was conducted as part of a project to support the implementation of the Deep and Comprehensive Free Trade Agreement with the EU.
The decision is also designed to offset the 25-30% devaluation of the leu over the past seven years.
Other changes adopted by the Government make it easier to apply for PARE 1+1 funding. This will be done by submitting an application form and a declaration stating that the applicant hasn’t received support from other state-funded projects.
The concept of the PARE 1+1 Program is that the government contributes 1 leu for every leu invested in starting or developing a business by returned migrants or their first-degree relatives.
The government offered a total of 66.97 million lei under PARE 1+1 during 2015 and 2016.
