About 130 entrepreneurs got favorable loans under Youth Credit Facility program

11:44 | 06.12.2019 Category: Economic

Chisinau, 6 December /MOLDPRES/- About 130 young entrepreneurs benefited from low interest rate loans, offered under the Youth Credit Facility program initiated by the Ministry of Finance.

In the 10 months of the program, the amount of loans granted to young entrepreneurs reached 85.3 million lei. The money reached the beneficiaries from 28 districts of the country.

According to the Ministry of Finance, most beneficiaries have invested the money in the purchase of agricultural technology, equipment for irrigation systems, mineral fertilizers, equipment for refrigerated rooms, greenhouses, planting material, seeds, connection to electrical networks and aqueduct, furniture manufacturing equipment.

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

Thus, for loans granted under the program, the interest rate is reduced by at least 2 percentage points compared to the annual reference interest rate. Additional resources of about 230 million lei are available to support young people within the program's credit line.

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