New grants fuel Moldovan economic growth, jobs
Over 24 million Moldovan Lei in grants have been awarded to approximately 70 entrepreneurs nationwide to develop their businesses.
This support is expected to stimulate investments of nearly 44 million Lei in the national economy. Furthermore, these grants will help create around 480 new jobs within these companies, adding to the approximately 1,300 existing ones.
Valentina Placinta is one of the beneficiaries of the SME Greening Program. She received a grant of nearly 380,000 Lei. With these funds, she plans to implement a drip irrigation system connected to a water reservoir.
"We're using this modern irrigation system that not only filters and fertilizes, but also quickly delivers results from this investment," says Valentina Placinta, a farmer.
Other beneficiaries will invest their funds in tourism development or the furniture industry.
"I recently returned from New York to the Republic of Moldova, and here, visiting Butuceni, my husband and I fell in love with our country again and decided to build a boutique hotel in the heart of Moldova," says Cătălina Castraveț, an entrepreneur.
"It's equipment for furniture design. Everything is automated; all the specifications are sent to this machine, and the machine then knows exactly how to drill any piece of furniture," explains Eugen Ivanov, an entrepreneur.
According to authorities, this support aims to build an economic model based on value-added, technology, and innovation, where companies can grow through smart investments.
"Over the past four years, we've mobilized more than 12 billion Lei in the national economy through support programs that include non-reimbursable financing, preferential rate loans, investment loans, and guarantee funds," stated Deputy Prime Minister and Minister of Economic Development and Digitalization, Doina Nistor.
"First and foremost, these initiatives will create jobs, contribute to economic investments, and foster the sustainable growth of businesses in the Republic of Moldova, enabling them to compete in the external market, especially in the European Union," noted Nina Potânga, Deputy Director of ODA.
The grants are provided by the Organization for Entrepreneurship Development (ODA), with financial support from the Government, the European Union, and the World Bank.
Translation by Iurie Tataru
