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In Moldova, within the framework of the program of soft loans for young entrepreneurs, soft loans worth 66.5 million lei were issued.

In Moldova, within the framework of the program of soft loans for young entrepreneurs, soft loans worth 66.5 million lei were issued.

This was reported by the Ministry of Finance, noting that since the launch of the program soft loans, the interest rate on which is 2 percentage points lower than the annual base rate, were given to 102 young businessmen from 26 regions of the country. The beneficiaries invested these funds in the purchase of agricultural machinery, irrigation equipment, mineral fertilizers, equipping refrigerators, greenhouses, the purchase of planting stock, connecting to the electricity networks and the water supply of the furniture factory. The program of preferential lending for young entrepreneurs was initiated by the Ministry of Finance and is being implemented through investment credit lines, external government loans for the development of the real sector, provided by the World Bank and the International Fund for Agricultural Development, totaling about 230 million lei. Re-lending to young entrepreneurs is carried out through financial partner institutions selected for participation in the program, which took all the credit risks and signed re-crediting contracts with the Ministry of Finance. The program of preferential lending to young entrepreneurs is being introduced to reduce barriers associated with restricting young people's access to financial resources and is also intended to provide them with additional support by lowering interest rates on loans. The main conditions for access to soft loans for young entrepreneurs are: the age of young potential beneficiaries is from 18 to 35 years old at the time of application; maximum sub-loan amount - up to 1.5 million lei; the purpose of the financed expenses is goods and services, including working capital / raw materials in accordance with the general conditions of the current credit line from which the subproject will be financed. In addition, young people must be citizens of Moldova and own at least 75% of the share of the enterprise / business. Beneficiaries can be individuals and legal entities registered in the territory of Moldova. Sub-loans will not be issued in cash. The grace period for the main sub-loan amount is up to 12 months. As part of a preferential credit line for youth, it is recommended that the margin of intermediary banks not exceed 3%, and additional commissions of partner banks should be reasonable. Young entrepreneurs can get soft loans for business development in agriculture in the country's rural areas, as well as in other areas of activity. Potential loaners can apply for preferential financing to the following financial institutions: Moldova Agroindbank, Moldindconbank, Mobiasbancă, FinComBank, Energbank, Comertbank, Moldcredit, ProCredit Bank, EuroCreditBank and Microinvest. // 09.09.2019 - InfoMarket

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