Moldova: EU allocates over €300,000 to support businesses on both banks of the Nistru River

Moldova: EU allocates over €300,000 to support businesses on both banks of the Nistru River

May 19, 2022

The European Union is allocating over €300,000 to support new business start-ups and business development on both banks of the Nistru River.

On 19 May, thirteen entrepreneurs were presented with grant certificates of up to €15,000, which they received in the framework of the fifth competition ‘Mentorship in Business – Start-Up for Youth’. A total of 57 companies were established as part of the EU-funded project, which in turn created 300 new jobs on the left bank of the Nistru River. 

A further six projects, each of which will receive €40,000 in funding, were selected as part of the second phase of the competition ‘Creating synergies for competitive business communities on both banks of the Nistru River’. The grants are allocated to support cooperation between entrepreneurs, digitalisation, workflow optimisation, and tourism.

The support provided to the business community stimulates the creation of new jobs, ensures the generation of higher incomes, brings innovation and has a positive impact on the living conditions of citizens on both banks of the Nistru River,” EU Ambassador to the Republic of Moldova Janis Mažeikis said at the grant certificate award ceremony.

The European Union provides this financial assistance through the Confidence Building Measures programme implemented by UNDP.

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