European Union awards new €8 million grant to support entrepreneurship in Moldova
May 24, 2023

European Union awards new €8 million grant to support entrepreneurship in Moldova

The European Union is allocating €8 million in non-reimbursable funding to co-finance seven state programmes to support entrepreneurship implemented by the Organisation for the Development of Entrepreneurship (ODA). The EU direct grant contract with ODA was signed today in Chisinau. 

These funds will be allocated as part of the newly-launched ‘EU for SMEs’ project, and will support at least 300 companies in their efforts to create, develop, expand or internationalise their businesses. The European assistance project will be implemented by ODA in the period 2023-2026.

The funding under the ‘EU for SMEs’ project comes to supplement the state budget of seven non-reimbursable financing programmes: PARE 1+2, Start for Youth, SME Greening Programme, Digital Transformation Programme, Upgrading and Energy Efficiency Programme, Programme to Support Women Entrepreneurship, and Rural Tourism programme.

“This funding will help to improve the investment climate, facilitate people’s integration in the labour market, and create a favourable business environment for MSMEs,” Deputy Prime Minister, Minister of Economic Development and Digitisation, Dumitru Alaiba said at the signing ceremony. 

“EU4SMEs will support the creation of new companies, increase the competitiveness of domestic entrepreneurs, as well as promote entrepreneurial culture in the Republic of Moldova,” said Jānis Mažeiks, Ambassador of the European Union in the Republic of Moldova.

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