Economic

Moldovan companies secure grants for modernization and sustainability

Fifty-nine Moldovan companies have secured funding contracts with the Organization for Development of Entrepreneurship (ODA) to receive grants from the Government of Moldova, the European Union, and the World Bank.

The total value of these non-reimbursable funds amounts to approximately 25 million Moldovan Lei, which equates to approximately 1.2 million euro.

These funds will be used to equip companies with advanced machinery and to make their operations more environmentally friendly.

Grant recipients have stated their intention to use these funds to improve the efficiency and growth of their businesses. Many have indicated that they will purchase new equipment to replace obsolete or outdated machinery.

"These funds will be allocated for the construction of a modular gazebo to allow us to develop and operate further," said one recipient.

Another recipient commented, "So, we applied for modern equipment that will replace our Soviet-era equipment that we acquired second-hand during our development."

Vadim Codreanu, director of ODA, emphasised the organisation's efforts to facilitate access to grants for businesses. "We are in the process of digitally transforming our institution. Today, out of the 59 companies benefiting, most are participating in the digital transformation program. Well, we, in turn, are in the process of correctly conceptualising our digital transformation initiative, so that you have access to a transparent and easy-to-read digital platform."

Dumitru Alaiba, Minister of Economic Development and Digitalization, spoke about the government's commitment to supporting the national economy through a series of strategic initiatives. "Just this year, through ODA, through programs funded by the European Union, the World Bank, other partners, but also from the state budget, credit guarantees, the 373 program, as well as grant programs, we have already exceeded the figure of 1500 entrepreneurs, just in one year, who have felt the support of the organisation for the development of entrepreneurship and of course we will continue. We want to wish you only success, we assure you that we are with you in everything we do," said Alaiba.

Of the 59 entrepreneurs, 35 will receive funding from the European Union, 22 from the Government of Moldova, and 2 from the World Bank. The largest investments will go to the industrial sector, with approximately 50% of beneficiaries. 30% will be directed towards the development of services, and the remaining 20% - in agriculture, where funds will be used for re-equipment and environmental protection of businesses.

Translation by Iurie Tataru

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