OREANDA-NEWS.July 03, 2012. As many as 51 investment projects of the migrant workers will be implemented through the Pilot Program for Attracting Remittances in Economy, "PARE 1+1". The members of the monitoring board of the Organization for the Development of Small and Medium-Sized Enterprises took a decision on the matter at a meeting.

According to the Economics Ministry s information and media relations department, the committee selected projects out of 158 financing applications.

For the implementation of those 51 projects, the monitoring board decided to grant 9.4 million lei, expected to attract investments worth 40.7 million lei in all. Thus, each leu given within the project for the implementation of these programmes will attract 4 lei to the national economy.

The financial proceeds due to be invested came from the remittances submitted by the migrants from 29 states. The majority of them are from Italy, which holds 49 per cent of the overall remittances. Russia comes next with 10 per cent of remittances. Other leading states in terms of migrants remittances to Moldova are the EU, the CIS, the USA, Africa and South Korea.

The fields of activity demanded by the applicants are the production of woollies and clothes, the production of mill and pastry products, the processing of wood, the production of furniture, the opening of social services offices, the purchase of equipment for the production of briquettes, etc.

The PARE 1+1 aims at mobilizing human and financing resources of the Moldovan migrant workers in order to secure a sustainable economic development in Moldova, through stimulating the creation and development of small and medium-sized enterprise by the migrant employees and by the remittances beneficiaries.