Fifty young entrepreneurs of Moldova to benefit from grants worth up to 265,000 lei

Chisinau, 20 February /MOLDPRES/ - A number of 50 investment projects of young entrepreneurs from Moldova will benefit from non-refundable financing worth up to 265,000 lei per one company. The applications were approved in the first six months following the launch of the component III of the Start for Youth Programme, Loan with grant component, held by the Organization for Entrepreneurship Development (ODA).    

The concerned component sees the providing of a financial package worth up to 1.76 million lei (88,000 euros), of which 85 per cent represents fixed-interest loan and 15 per cent is non-refundable financing on behalf of the state.  

The overall sum of the financial package accessed by the first beneficiaries is about 49 million lei, of which nine million lei is provided as grant.   

As a result of initiatives’ implementation, the volume of investments in the economy will be of about 54 million lei, with over 140 jobs created and maintained, according to data of the investment projects presented by entrepreneurs. The financial means will be used for purchasing assets and services for the development of businesses in more sectors of the national economy. 

The financial package is co-financed by the Foreign Assistance Programme Management Office (OGPAE), which allocates from the funds Facilities of Crediting Youth the part of the repayable loan through the Participating Financial Institutions (IFP); at the same time, the ODA provides through IFP the part of non-refundable financing to eligible beneficiaries.   

Photo: ODA