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Posted by: Eliza Mihalache

News / Economic

11 May 2022 / 20:05

The "Start for Young People" program is being extended for another three years

The government is extending the "Start for Youth" program for another three years. Thus, the young entrepreneurs will have the opportunity to obtain higher non-reimbursable financing, up to 200,000 lei, Moldova 1 reports.

Those young people who do not yet have a business or a registered company will also be able to be trained. The director of the Organisation for the Development of the Small and Medium Enterprises Sector, Dumitru Pîntea, announced a new project that involves subsidised loans.

The value of the loan is provided at the maximum ceiling of 1 million and a half lei, and of the subsidy - at 250 thousand lei. According to Pîntea, even 80 percent of the loan could be guaranteed by ODIMM.

"Credit with a grant component. This tool is to be implemented by three partners. This is the ODIMM that comes with the grant component. It is about the Office of Management of External Assistance Programs that comes with the credit line facility and it is about the financial institutions that are going to effectively ensure the process of granting the loan and monitoring the beneficiaries," said Dumitru Pîntea, ODIMM director.

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