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272 entrepreneurs received financial assistance worth 166.8 million lei under the Youth Lending program.

272 entrepreneurs received financial assistance worth 166.8 million lei under the Youth Lending program.

According to the Ministry of Finance, the program was launched in 2019 and extended towards all regions of Moldova. It is implemented through branches of 8 financial institutions (commercial banks), which assume all risks associated with on-lending operations. Refinancing rates are constantly decreasing for both participating banks and final beneficiaries for the duration of the loans. It is noted that recently for the final recipients of sub-loans under the Program, rates were set at 4.35% per annum, which is 4 pp. more profitable compared to the average rates on commercial loans in the banking sector. For 2021, the funds of the program were replenished with 80 million lei from external state loans administered by the Bureau for the Management of Foreign Aid Programs. The average amount of a sub-project submitted by young people for financing within the framework of the program is about 610 thousand lei, and the average maturity of sub-loans is 4 years. The loan funds were used by the beneficiaries to purchase 60 different agricultural machinery, 99 tractors, 12 combines, 11 refrigerators, 8 irrigation systems, 5 greenhouses, as well as for fertilizers and the necessary working capital. The most active banks participating in the program are Moldova Agroindbank, Mobiasbanca-OTP Group, FinComBank. As a reminder, the beneficiaries of the program can be individuals or legal entities between the ages of 18 and 35, who own at least 75% of the company's property. The maximum loan amount is 1.5 million lei. // 15.01.2021 - InfoMarket.

News on the subject

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