On March 30, 2011, the Government of Japan approved the use of the Counterpart Fund, accumulated under the Japanese Non-Project Grant Aid, to finance the Project on Assistance and Development of Small and Medium Enterprises.
In the period of 2005-2008, Japan extended four tranches of Non-Project Grant Aid for the total amount of 1.3 billion yen (about 11.8 million USD) to Moldova for the purpose of contributing to promotion of the economic and structural efforts of the Government of the Republic of Moldova as well as mitigation of the economic difficulties. The Government of Moldova decided to spend these grants aid for support and development of small and medium enterprises by way of purchases of necessary equipment, machinery and other products, and their subsequent lease to enterprises under favourable conditions.
Furthermore, the grant aid was extended under the condition that Moldovan side accumulates a counterpart fund to be used subsequently for social and economic development of Moldova, in this case also for development of small businesses.
Since the first grant provided in March 2005, a total of 123 small and medium enterprises in Moldova benefited from the implementation of the program and used financing from the Japan's grant aid as well as the counterpart fund.
In March 2011, the Ministry of Economy of Moldova, under aegis of which the program is being implemented, requested the Government of Japan to approve the use of another 21 million of Moldovan lei from the counterpart fund to finance the project on assistance and development of small and medium enterprises. Having studied the application, the Government of Japan decided to approve the project. It is expected that 13 small enterprises will be selected to participate in the project.
Taking this opportunity the Embassy would also like to inform that Japan is deeply grateful for the humanitarian aid Moldova extended. Although in the middle of hardship, caused by the earthquake and other ensuing disasters, Japanese government hopes to remain supportive of Moldova and its citizens.
