Young entrepreneurs get loans with reduced interest rate

About 130 young entrepreneurs benefitted from low-interest loans as part of the program “Youth Lending Facility” initiated by the Ministry of Finance. The program was extended to cover 28 districts of the country. The loans provided to young entrepreneurs during ten months totaled 85.3 million lei, IPN reports.

Most of the beneficiaries invested the money in agricultural machinery, equipment for small-scale irrigation systems, mineral fertilizers, equipment for cold storage facilities, greenhouses, planting materials, seeds, connections to electricity networks and water supply systems, etc.

The interest rate on the loans was by at least two percentage points lower than the annual reference interest rate.

About 230 million lei more is available within the credit line for supporting young people. These funds are revolving current assets deriving from state foreign loans for development that are managed by the Ministry of Finance through the Credit Line Directorate.

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