OREANDA-NEWS. August 25, 2008. Mobiasbanca had signed additional agreements with Ministry of Finance with the purpose to take part in the implementation of the National Program for Youth Economic Facilitation, reported the press-centre of Mobiasbanca.

The target group of this project are youth, 18-30 years age, who want to launch, in the rural area, an own business or to develop an actual business, with the condition to create new job places.

The Programme stipulates that in the first stage will be offered loans in the amount of maximum MDL 300 000 (over Euro 18 000) for 1 000 businesses launching in the maximum terms of 5 years. The project financing scheme stipulates that in case of returning in terms at least 60% of the loan amount and of the commercial interest rates, 40% of the loan will be considered as a grant (non-refundable credit).

This program was approved by the Government’s Decision nr. 664 dated 03.06.2008, according to which the partial financing of this program is to be made out of the Rural Investment and Services Project I (RISP I) working capital proceeds. This project is financed by the International Development Association and out of the proceeds available under the Rural Financing and Small Enterprises Development Project (IFAD I), financed by the International Fund for Agricultural Development.