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Funds of Youth Credit Facility programme supplied by 150 million lei in Moldova

14:37 | 28.09.2022 Category: Economic

Chisinau, 28 September /MOLDPRES/ - The Foreign Assistance Programmes Management Office today informed about the extension and supply by 150 million lei (about 7.5 million euros) of the funds of the Youth Credit Facility programme, phase II (FCT II).    

According to the Finance Ministry, the funds were supplied, in order to facilitate young entrepreneurs’ access to advantageous resources at fixed promotion rates, for the needed capitalization of the business started.   

The funds’ extension will ensure the co-financing of the programme, Start for Youth: a Sustainable Business at Home, Component III, a loan with grant component promoted by the Organization for Entrepreneurship Development (ODA). The general goal of the programmes is to promote entrepreneurship among young people and back the asocial and economic integration of people with ages between 18 and 35 years.   

The overall value of the subsidiary loan with grant component is of up to 1,760,000 lei. The programme’s means are available starting from 1 September this year. The loans borrowed will be able to be used for purchasing assets and services for developing the business started by young entrepreneurs, according to the eligibility conditions of the programme, Start for Youth: a Sustainable Business at Home.   

For consultations and accessing resources, eligible people can appeal to the intermediary Participating Financial Institutions and their branches from all over Moldova, where people can submit applications for accessing funds of state programmes provided for development, with grant component.   

As for the end beneficiaries of sub-loans, the rates on the loans got will not exceed 9 per cent annually; thus, friendly conditions are created for the support and initial capitalization of young people’s business, maintaining activities and creation of new jobs.    

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