The program to attract remittances to the economy for developing small and medium-sized enterprises “PARE 1+1” was extended until 2021. The Cabinet on November 8 approved a bill to this effect, IPN reports.
Minister of Economy and Infrastructure Kiril Gaburici said the program showed that it can help augment productive investments in business activities in Moldova coming from remittances. It also supports the migrant workers on their return to the country and the families that are maintained by remittances.
The approved bill facilitates the procedure for applying to the program, extends the list of participants, optimizes the set of necessary documents, etc.
A sum of 40 million lei a year was planned for financing the “PARE 1+1” program during 2019-2021. This amount will enable to co-finance about 480 businesses of migrant workers and/or their relatives of the first degree who want to invest in a startup or development of a business at home.
