EU-supported project helps over 200 young people launch or expand businesses across Moldova

More than 200 young people across the Republic of Moldova have successfully launched or expanded their businesses through the project ‘Empowering Young Entrepreneurs in Moldova’, funded by the European Union and concluded in March.

The project started in December 2022, with a total budget of €2.5 million, including €2 million provided by the European Union.

The initiative was designed as a response to the major challenges faced by communities in the Republic of Moldova, including youth migration, declining economic opportunities in rural areas, and the high number of young people outside the labour market and education system.

After 40 months of implementation, the initiative has delivered concrete results for local economic development and strengthened entrepreneurial opportunities for young people in communities across the country.

A total of 209 young entrepreneurs were supported to launch or expand businesses; 232 jobs created in more than 120 localities, and more than 2,250 mentoring and consultancy sessions were delivered. The supported businesses operate in 23 economic sectors, including agriculture, production, services, IT and creative industries.

Elena Avricenco, entrepreneur and creator of a local brand, and project beneficiary from Visoca village in the Soroca district, said: “The support provided through this programme helped us transform an idea into a real business. We received the necessary equipment, as well as mentoring and training, which gave us the confidence that we can develop a sustainable business here at home.”

The project was implemented by Help – Hilfe zur Selbsthilfe e.V.(Germany), in partnership with Moldovan public associations DEMOS, Pro Cooperare Regională, and HomeCare.

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Press release