On 18 May, a new €700,000 grant programme, benefiting companies, start-ups, and social entrepreneurship initiatives from Cahul and Ungheni regions was launched with EU financial assistance.
The private sector in these two focal regions will be developed in the framework the ‘EU4Moldova: Focal Regions Programme’, financed by the EU and implemented by United Nations Development Programme (UNDP) and UNICEF.
Under this second call for private sector financing, 26 companies from the Ungheni and Cahul Focal Regions will benefit this year from grants of €15,000 - €30,000 each. The first round was conducted in 2020, with 28 enterprises, start-ups, and social entrepreneurship initiatives receiving similar assistance.
“This new round of grants for SMEs …will support entrepreneurs to roll out new investments and expand their businesses. By doing this, new jobs will be created, and the income of employees will increase, while implementing green economic principles,” said EU Ambassador to the Republic of Moldova Peter Michalko. “This is possible with EU support of almost €23 million to the Focal Regions programme, having the goal to boost inclusive, green, smart, and sustainable economic development.”
Entrepreneurs from Ungheni and Cahul regions can apply in three categories: support and expansion of existing businesses, support for existing or newly created start-ups, and support for social entrepreneurship initiatives.
The financial assistance may be used to purchase equipment, goods, works, and services to expand the business, promote models of circular economy, create new jobs, and increase the attractiveness of the key regions for new investments. At the same time, the awarded entities will benefit from mentorship, trainings, and coaching to foster entrepreneurial culture.
The deadline is 15 June 2021.
The third and last call for private sector from the focal regions will be launched in 2022. The total value of grants for the business sector in the Cahul and Ungheni regions awarded during 2020-2024 as part of the programme is about €1.7 million.