PARE 1+1 Programme for Attracting Remittances into the Economy

The PARE 1+1 Programme for Attracting  Remittances into the Economy, launched in 2010, offers funding to complement migrants’ financial resources and provides entrepreneurial training to migrants and their relatives for business development. The Programme also provides beneficiaries with information on the existing business opportunities. For this purpose, diaspora networks act as important information dissemination channels thus raising awareness on available investment opportunities in Moldova.

Results:

The Programme has had substantial impacts on the national economy, with 60 to 70 percent of established and/or expanded businesses belonging to the agrifood sector.

In 2015, the Programme was evaluated by the International Organization for Migration (IOM) and the SIPA Workshop team.

Iulia Iabanji, Moldovan General Director of the Organisation for Small and Medium-sized Enterprises Sector Development (ODIMM), said in 2016: “During these years, state allocations have increased from 10 million lei in 2011 to 50 million lei in 2016. During the programme lifetime, investments were financed with the support of the European Union, and the total amount of grants allocated is of about 133 million lei. These resources, in their turn, have attracted investments of about 386,5 million lei from migrants in the economy: each leu allocated as a grant has generated about 2.9 lei of investment into economy.”

GFMD 2013-2014 - Background Paper RT 2.2 "Facilitating positive development impacts of diaspora engagement in skills transfers, investments and trade between countries of residence and origin"

GFMD 2018 - Background Paper RT Session 3.2 "Beyond Remittances: leveraging the development impact and promoting the transnational engagement of diaspora and migrants"

GFMD 2019 - Background Paper RT 3.2 "Harnessing migration for rural development"

National Government of Moldova,

European Union