More than 38,000 companies in Moldova received assistance through the agency of the EU4Business Initiative in 2019-2020. Of these, 553 entrepreneurs got loans to the total value of €101.16 million as part of the EU programs to support Small and Medium-Sized Enterprise (SME). There were offered 37,364 consultations, IPN reports.
The EU Delegation to the Republic of Moldova said that in 2020 alone, owing to the EU’s support, 11,418 persons got a job. For example, Gheorghe Avornik, founder of the lyceum Litterarum, received a grant and loan from the EU4Business-EBRD credit line through Victoriabank. The loan covered 15% of the financing. This opportunity enabled him to renovate the school’s building, to demolish the old roof and to build a new one. All the windows were replaced, while energy infrastructure was renovated.
Denis Korablev, who runs an eco-friendly luggage business, benefited from a grant within EU4Business-EBRD for purchasing an automated production line. This helped him diversify production and, amid the pandemic, he started to export medical masks and gowns to other countries, including Italy and France.
The Eu4Business Program offers support and encourages small and medium-sized entrepreneurs to improve the quality of their products and to modernize services.
