The support provided by the European Bank for Reconstruction and Development (EBRD) and the Government of Sweden through a dedicated “Women in Business” program has helped raise the competitiveness of 90 Moldovan companies over the past three years. The program connects women-led and women-owned businesses or companies where women make up the majority of employees with local consultants, who help them grow and become more competitive, IPN reports.
Since its launch in 2011, Sweden has contributed more than €1,000,000 to the program. “I am pleased that the grant financing of the Government of Sweden has helped 90 businesses expand and become more competitive. It is not only good for these women and their companies, it is good for the entire economy of Moldova, and it is excellent for the EU integration path of Moldova,” Ambassador of Sweden to Moldova Ingrid Tersman said in an event held to celebrate three years of work of the program.
The majority of the companies supported as part of the initiative operate in wholesale and retail sector, health services, textile and apparel, as well as in food and beverage production. Others specialize in information technology, tourism, construction, media and communications. Almost half of the enterprises received advice to implement informational management technologies. Others focused on marketing improvement, quality management systems, engineering solutions and business plan development.
“Within one year after the project implementation, the enterprises we supported as part of the program have increased their turnover by 23 per cent on average”, said Veronica Arpintin, the Moldova National Manager for the EBRD’s Small Business Support team. “These companies employ by 40 people on average and 3,600 employees overall. Over 50% of these employees are women. Approximately 80% of the companies operate in Chisinau. We aim to more actively promote this program in rural areas, where the women encounter more difficulties in developing businesses, being preoccupied mainly with housework.”
Going forward, the EBRD will continue strengthening the role of female entrepreneurs in the Moldovan economy. A new program will be launched next year and combine advisory services with access to finance. The EBRD is the largest institutional investor in Moldova. To date, the EBRD has invested some €900 million in over 100 projects.
