Some conditions of the “373» Investment Incentive Program are planned to be revised.
The Ministry of Economic Development and Digitalization has submitted for public consultation a corresponding draft amendment to this program, which is aimed at harmonizing the instrument used for partial compensation of interest on loans with public policy priorities and business development goals. Also taken into account are some practical aspects, mainly of a technical nature, which need to be specified or improved. In particular, it is proposed to expand the concept of “investment loan”, allowing the purchase or mortgage of perennial plantations, the acquisition of digital technologies and information programs, as well as lands and premises adjacent to those in which the main activity is carried out. It is proposed that the price of the site should not exceed 50% of the cost of the investment project for which financing is requested. It is also proposed to allow pooling of loans provided by the government through ODA. The total value of the balance of loans provided under the “373” Program to one beneficiary will be expanded from 15 million to 35 million lei. It is proposed to eliminate the restriction associated with the request for a financial guarantee from the Credit Guarantee Fund for loans issued under the program, namely the maximum guarantee amount of 40% of the loan amount. It is planned to specify certain eligibility criteria for beneficiaries and the investment project. For example, trade will be included in the eligible activities for participation in the program, with the exception of wholesale or retail trade in alcoholic beverages and tobacco products, and a prerequisite for applicants for 373 assistance will be the presence of a business plan or financial forecasts only in the case of newly created enterprises or if the loan amount exceeds the established loan limit approved by the internal rules of each bank, etc. As of November 16, 2023, under the “373” program were provided 132 loans: 315.1 million lei were received by 121 beneficiaries. The total cost of investment projects amounted to 443.2 million lei, of which 41% - in the field of energy production and distribution, 21% - in the processing industry, 13% - in the field of agriculture, fish farming and forestry, 12% - in the field of transport and warehousing. About 34% of projects are implemented by young people, and 26% are managed or founded by women. According to the data presented, the balance of debt on loans included in the program as of November 16, 2023 amounted to 214.6 million lei, and banks paid compensated interest in the amount of 1.1 million lei. For November, the total amount of accrued compensated interest amounted to about 1 million lei. Thus, based on the loan repayment schedules and the interest rates applied to the loans, the total amount of interest payable is about 34.8 million lei (compensation obligations from December 2023 until the final repayment period of the loan to program beneficiaries). Consultations on the initiated draft amendments are held until December 7: https://goo.su/z5MgyA. // 04.12.2023 — InfoMarket.
