The concessional lending program for young entrepreneurs of Moldova for 2022 provides for financing in the amount of 120 million lei.
This was announced by the Ministry of Finance, noting that the Program for preferential lending for young entrepreneurs (Facilitatea de Creditare a Tinerilor - FCT) was launched earlier with the aim of promoting and encouraging young entrepreneurs, creating new jobs and providing additional support to young people by reducing interest rates on investment loans under credit lines administered through participating financial institutions, and to help mitigate the impact of the COVID-19 pandemic on real business. The sources of financing for the FCT Program are working capital of investment credit lines financed by external government loans for development and re-credited to enterprises in the real sector through the Foreign Assistance Program Management Office and partner financial institutions that assume all credit risks. It is recommended that the fixed annual rates of participating financial institutions on repayable loans refinanced under the FCT Program for the ultimate beneficiaries be set at a level not exceeding 6%, which is several percentage points lower than the average rates for commercial loans issued in the banking sector at the expense of banking resources. Eligible activities and purpose of financed expenditures are goods and services, including required working capital. A young entrepreneur must own at least 75% of the property of the enterprise. Potential beneficiaries can be individuals and legal entities aged 18 to 35 living in Moldova. The maximum sub-loan amount is up to 1.5 million lei. Loan applicants can apply to the following participating financial institutions with which the Ministry of Finance has entered into relevant refinancing agreements: maib; Moldindconbank; Fincombank; Energbank; Comertbank; ProCredit Bank; EuroCreditBank; Victoriabank; OTP Bank; Microinvest; Corporația de Finanțare Rurală. // 15.02.2022 — InfoMarket
