The United Kingdom is investing additional funding of £1,195,500 to improve the business environment and enhance the competitiveness of enterprises from both banks of the Nistru river. The funds are provided through “Advanced cross-river capacities for trade (AdTrade)” project, implemented by the United Nations Development Programme (UNDP).

The respective financing agreement was signed on 15 May 2024 in Chișinău by Fern Horine, British Ambassador to the Republic of Moldova and Daniela Gasparikova, UNDP Resident Representative to the Republic of Moldova.

The additional British assistance will enhance the results achieved by the AdTrade project in 2018-2024, fostering sustainable growth for businesses on both banks of the Nistru river, forging trade partnerships, and enhancing their ability to export.

“Since 2021, the United Kingdom has been supporting AdTrade and invested over £1 million in the project. Hundreds of companies from both banks of the Nistru river have benefited from assistance provided and became more competitive on export markets, particularly in Europe and the UK. I am very pleased to see how the exports are growing steadily, new jobs and businesses are being created, and the dialogue across the river is becoming stronger. Now, we hope that our growing investment will help open even more doors to increased trade with Europe, and thanks to a new phase of the project, which will now be funded by UK, through the Good Governance Fund, will contribute further to Moldova’s economic development,” said Fern Horine, British Ambassador to the Republic of Moldova. 

“I appreciate the partnership with the United Kingdom in promoting growth and cooperation opportunities among businesses from both banks of Nistru. This additional funding will allow MSMEs – the backbone of local economies – to adopt Environmental, Social, and Governance principles, to adapt to the challenging market demands, to become more resilient to crises and to enhance their export capabilities,” said Daniela Gasparikova, UNDP Resident Representative to the Republic of Moldova.

Thanks to the additional funding, more micro, small and medium-sized enterprises will benefit from assistance to enhance their competitiveness and adopt business standards demanded on external markets, as well as increase the efficiency of their quality management, develop export strategies, promote gender equality, adhere to environmental, social and governance principles and use renewable energy sources.  

Five companies will receive financial assistance and consultancy to implement energy efficient technologies. An economic cluster of businesses from both banks will be supported. With the project’s support, at least 15 businesses, including run by women, will be set up or developed on both banks. 

The additional funding will contribute to improved regulatory and institutional framework to encourage economic cooperation between the two banks and integrate left-bank companies into international value chains. 

The project will continue supporting exchanges of information, knowledge, and experience between the business communities from both banks of the Nistru river on the opportunities offered by foreign trade agreements. The capacities of business associations will be improved so that they can promote more effectively the interests of business communities from both banks of the Nistru river.

Thanks to additional assistance from the UK, the UNDP/AdTrade project will expand the access to STEEAM education (Science, Technology, Engineering, Entrepreneurship, Arts and Mathematics) in at least three schools on the left bank of the Nistru river.

“Advanced cross-river capacities for trade” (AdTrade) project has been implemented since December 2018 by UNDP, with the financial support of Sweden, and since the summer of 2021 — with the financial assistance of the United Kingdom and Sweden.