The young people in Moldova will benefit from preferential credits from the state for starting a business. The credits will be offered as part of the national youth support program approved by the Government on May 28.

Under the program, the credits will be repayable in 5 years and will be worth up to 300,000 lei. 60% of the credit and the interest will be repaid by the beneficiaries. If the basic sum of the credit is repaid in due time, the other 40% will be transformed into non-reimbursable grant without calculating the interest.

First Deputy Prime Minister and Minister of Economy and Trade Igor Dodon said that the credits could be used to purchase production equipment. He also said that priority will be given to the projects that will contribute to the expansion of exports and substitution of imports and that will develop production activities in rural areas.

The projects concerning the growing and selling of tobacco, manufacture of pesticides, purchase of real estate and securities and refinancing of debts will not be accepted.

The program will be implemented from the funds of the Rural Investment and Services Project financed by the World Bank, the available resources of the Rural Finance and Small Enterprise Development Project financed by the International Fund for Agricultural Development and from other resources attracted from development partners // Reporter.MD


Publication date: 29 May 2008   

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