The Cabinet approved the program to support the entrepreneurs “373”. This is a financing instrument through which the state will subsidize the interest rates on loans for the investment needs of enterprises, IPN reports.

Deputy Prime Minister Dumitru Alaiba, Minister of Economic Development and Digitalization, said that “373” is the telephone prefix of the country and each digit represents a parameter of the program. “3” is the 3% interest rate on loans in foreign currencies, euros or dollars. “7” is the 7% interest rate on loans in lei, while the other digit “3” is the longest grace period for loans repayable in up to seven years.

“The highest value of the compensated loan is now 15 million lei, but we will have a legislative adjustment that will enable to increase this limit,” stated the official.

To benefit from advantageous loans, the entrepreneurs need to present an eligible investment plan to the bank and to pay an own 10% contribution to the investment program.