Over 50 young entrepreneurs benefit from low-rate loans through Youth Credit Facility Program

13:01 | 29.05.2019 Category: Economic

Chisinau, 29 May /MOLDPRES/- In the first four months of 2019, 56 young entrepreneurs accessed loans at a low interest rate through the Youth Credit Facility Program, initiated by the Ministry of Finance.

According to the press service of the institution, the total amount of credits to young entrepreneurs under the Program is 35 597 415 lei. Most beneficiaries coming from 19 districts of the country have invested money in agriculture.

Most credits were granted to young people from Gagauzia - 13, followed by young people from Râşcani - 6 and Glodeni - 6.

The main eligibility conditions for young people and funded businesses are: the age criterion that should not exceed 35 years, the maximum amount of a sub-loan not more than 1.5 million lei, and entrepreneurs must have 75 percent of business.

The program was launched to promote and encourage young entrepreneurs, create new jobs, taking into account the need to provide additional support for them by reducing interest rates on new loans contracted through commercial banks.

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