Hot line for Youth Economic Support National Program set up

The people interested in the Youth Economic Support National Program can learn more by calling the hot-line 22-57-99 in Chisinau, launched by the Small and Middle-Sized Enterprises Development Organization, an institution subordinated to the Economy and Trade Ministry (ETM), Info-Prim Neo reports. Developing your own business, easing the young entrepreneurs' access to money needed to start a business, and stimulating young people to start new enterprises represent the essential priorities proposed within the program, reads a communique by ETM. The target group of the program is the young people of 18-30 years, who want to start their own business in rural areas or to develop their already running business, on condition they create new jobs. The program is extended for the period 2008-2010 and has three components. The first deals with training and consulting. Its beneficiaries are viewed as young people with enterprising spirit, including youths without a certificate of graduating the secondary school. The second component deals with financing rural investment projects, including leasing contracts providing for disbursing loans of up to 300,000 lei for a term of up to 5 years. 60% of the loan and its interest will be returned by the beneficiary. If the return is done in due time, 40% of the loan will become a grant, without interest rate. The third component deals with post-financing monitoring. The Program is financed by the Finance Ministry from the money of the Rural Investment and Services Project (RISP-1), financed by the World Bank and by the International Fund for Agricultural Development. More details can be learnt from the Finance Ministry by calling (37322) 23-29-63, fax: (37322) 23-82-49. Address: str. Banulescu-Bodoni 57/1.