OREANDA-NEWS. October 17, 2011. One year since its implementation, the PARE 1+1 programme for attracting remittances from abroad to Moldova's economy, has proved to be successful, according to the increasing number of applications. Economics Minister, Deputy Premier Valeriu Lazar made this statement at a meeting of the management board of the PARE 1+1 programme.

The participants in the meeting approved 18 applications on non-redeemable financing for businesses, estimated at 8.59 million lei, submitted by the citizens working abroad or by their relatives, according to the Economics Ministry's communication and press relation service.

The agriculture and food sector is further holding an 82-per-cent share of the overall number of enterprises that had applied for financing within the PARE 1+1 programme. In the context, Valeriu Lazar noted that with the global increase in the prices for foodstuffs, the businesses in the farming sector are becoming profitable. Having regard to the profile of the companies applying for financing within the programme, many new businesses are launched in this sector.

"Our goal is to increase the level of the entrepreneurial culture via this programme, as well as to assist the migrant workers both at the stage of starting and financing a business and at the post-investment level. I have great expectations from the programme's main task, which is the multiplication of investments. So far, each leu invested by state has brought 1.7 lei in private investments. In the future this proportion might stand at 1 to 3", Lazar said. At the same time, Lazar demanded that the norms of financing eligibility within the programme should be updated by late November 2011, taking into account the results of the programme's implementation, in order to ensure a fair competition between the business projects.

As many as 92 financing applications have been recorded so far, of which 60 had been analyzed by the management board of the PARE 1+1 programme. Thus, 49 applications by the emigrant workers were accepted for financing. Those selected have signed non-redeemable financing agreements with the Small and Medium Enterprise Development Agency.

The investments made within the pilot programme PARE 1+1 are estimated at 23.5 million lei, of which 12.17 million lei from remittances, 8.84 million lei from non-redeemable financing within the PARE 1+1 programme and 2.5 million lei from the beneficiaries' means. The non-redeemable assistance varied between 47,000 lei and 200,000 lei, according to the Economics Ministry's communication and press relation service.