PARE 1+1 programme to finance 66 investment projects by Moldovan migrants

The PARE 1+1 Programme’s Management Board has accepted to finance 66 investment projects, elaborated by migrant workers and their relatives, at a meeting on 23 April, the Economics Ministry’s information and media communication service has reported.

Thus, the investments projects see for cumulative investments of about 46 million lei, while the amount of the grants requested within the above-mentioned programme is of 12 million lei. So, 1 leu requested within the PARE 1+1 programme will attract about 5 lei investments in the economy.

The analysis of the financing applications shows that the Moldovan migrant workers, who are willing to invest the remittances into their own businesses, have been mainly working in Italy – 40 per cent, Russia – 15 per cent, the USA, Portugal, Span – 7 per cent each, Ireland – 4 per cent, etc.

The migrant workers mostly invest their savings in agriculture (green houses, cold storages, animal farms), industry (bakery, construction materials, furniture, briquettes), services, tourism and constructions.

The territorial distribution shows that the majority of applications came from the central region of Moldova (55 per cent), being followed by the northern region (18 per cent), the southern one (14 per cent) and the Chisinau municipality – 13 per cent.

Within the PARE 1+1 programme, the migrant workers and their relatives benefit from advisory and information services regarding the business development opportunities, the projects which are under way all over Moldova, the financing sources of an investment project, the legislative aspects of an entrepreneurial activity, etc. Also, in order to improve their entrepreneurial knowledge and abilities, the participants are trained during seminars, which are organised on modules with a total length of 50 academic hours (10 working days) and include the following topics: registration of a business, management, marketing, bookkeeping, business planning, etc.

The PARE 1+1 programme’s budget is of 32 million lei and the grants’ amount, which shall be additionally contracted this year, stands at 20 million lei.

Adapted from Moldpres