28 entrepreneurs from Cahul and Ungheni regions develop their business thanks to the assistance of the European Union

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Posted by: Ecaterina Arvintii

News / Regional

02 Mar. 2021 / 12:00

28 entrepreneurs from Cahul and Ungheni regions develop their business thanks to the assistance of the European Union

28 entrepreneurs from the Cahul and Ungheni regions benefit of grants of overall €700,000, assistance provided by the European Union for the development of the private sector in the focal regions. The entrepreneurs were selected through open competition by the EU4Moldova: Focal Regions Programme out of 140 applications received from Cahul and Ungheni districts.

“The EU stands by the citizens of the Republic of Moldova during this challenging period. We are proud to bring concrete and tangible support to the local entrepreneurs through our EU Focal Regions programme. The aim of EU assistance is to help save companies, support their development, create new and better jobs, boost the economic recovery, and improve the business environment”, said Peter Michalko, EU Ambassador to the Republic of Moldova

According to UNDP Moldova, 16 existing companies, 10 start-ups and 2 social entrepreneurship initiatives will receive grants of €15,000 - €30,000 each. Financial assistance will be used to purchase equipment, goods, works and services to grow the business, create new jobs and increase the attractiveness of focal regions for new investments.

“UNDP in partnership with the EU is committed to support and encourage the entrepreneurial spirit of the 28 women and men from both regions and their efforts in reviving the economic sector, creating new jobs, and attracting investment in these focal regions,” said Dima Al-Khatib, UNDP Resident Representative to the Republic of Moldova.

The beneficiaries of the private sector support program, I^st edition, cover vast fields of economic activity: furniture production, tailoring, pastry making, decorative objects, construction materials, agriculture, beekeeping, etc.

The grants programme beneficiaries will create more than 200 new seasonal and permanent jobs in both focal regions.

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