OREANDA-NEWS. February 04, 2013. Cabinet ministers resolved to prolong implementation of pilot program for attraction of money in the economy of Moldova PARE 1+1, which was to last from 2010 till 2011. Official launch of PARE 1+1 took place in November, 2020.

The program has been developed for labour migrants and their first-stem relatives who are going to invest in opening or extension of the business in Moldova. The program facilitates the access to lending for migrants and furthers their reintegration into the society, encouraging at the same time the inflow of money remittances through official channels. PARE 1+1 aims to an extremely important social goal: to inform and train labour migrants in the area of business and facilitate their reintegration into Moldova.

The program is based of the rule "1+1". It means that every lei invested by a migrant is added with one lei granted. The maximum sum available is 200 thousand leis. The funds provided within PARE 1+1 are non-repayable. PARE 1+1 is not just a direct financial support on the side of the state. It includes training, consulting and backing. Participants of the program are granted an opportunity to attend training business courses, have study kits and be consulted. Since the launch of the program it has been provided over 4500 consultations, organized 18 training courses and created 800 new jobs. In the framework of the program labour migrants have been concluded with 124 non-repayable financing contracts.

Within 2011-2012 funds have been allotted at a total sum of 22.5 mln. leis. Investments attracted exceeded 76 mln. leis. Each lei allotted through the program has been said to attract 3 leis invested. In 2013 this program has been assigned for 32 mln. leis, 50% more than the sum allotted for the last two years.

Within 2011-2012 PARE 1+1was funded by the European Union and at present The Organization for Promotion of the Sector of Small and Medium-sized enterprises under the Ministry of Economy, which implements PARE 1+1 and the International Fund for Agricultural Development (IFAD) are negotiating on identifying an amount of backing for 2014-2015.