Moldovan cabinet facilitates access to programmes on financing business

Chisinau, 1 June /MOLDPRES/ - Young people willing to start or develop a business can benefit from non-refundable financing or loan with grant portion. The cabinet, at a today’s meeting, approved the Programme, Start for Young People: a Sustainable Business at Home, implemented by the Organization for Small- and Medium-sized Enterprises Sector Development (ODIMM).     

According to the government’s communication and protocol department, through the programme, grants worth up to 200,000 lei will be provided to young people who are set to start businesses. The financing on behalf of the state will account of up to 70 per cent of the investment project’s value and young people will come up with a contribution of only 30 per cent.    

Another mechanism meant for young people is the programme of loans with grant portion. This programme will combine the financing provided as grant with loans on easy terms, provided through commercial banks and the External Assistance Programme Management Office. The value of the financial package will reach up to 1.7 million lei and will include the portion of repayable loan of 85 per cent and a portion of grant of 15 per cent.    

Photo: Government