More than 1,200 enterprises were financed through the PARE 1+1 program as of 2010. About 242.4 million lei worth of grants were offered within the program so far. This enabled to attract investments to the value of 767.7 million lei, IPN reports.
According to the Government’s press service, the program contributed to opening 538 new enterprises, most of which are situated in rural areas, and to creating 3,200 workplaces. The participants in the program developed new businesses for the Republic of Moldova, such as the cultivation of almonds, breeding of ostriches and snails. 48% of the entrepreneurs are younger than 35, while about 30% are women.
The program to attract remittances to the economy “PARE 1+1” for 2010-2018 is intended for migrant workers and their relatives of the first degree who want to invest in starting or extending a business. Within the program, the entrepreneurs can get a grant of at most 250,000 lei based on the 1+1 principle: the state provides 1 leu for each 1 lei invested from remittances within the PARE 1+1 program.
This way the program facilitates the access to financing for migrants and their reintegration into society, contributing to Moldova’s economic development. The program also stimulates the creation of SMEs, informing about the opportunities of developing a business in the country of origin. As many as 1,975 persons were trained to start a business so far.
