A number of 178 projects to the value of 44.62 million lei had been financed within the National Youth Economic Empowerment Program over the first three quarters of the year. Of this sum, 20.05 million lei represented the grant provided by the European Commission. Another 107 projects will obtain financing in the fourth quarter. There will be offered another about 12 million lei, Info-Prim Neo reports, quoting the Directorate of the Credit Line set up under the Ministry of Finance. The program is open to people aged between 18 and 30 from rural areas. The loans of up to 300,000 lei are repayable within five years. 40% of the loan is offered as a grant if the recipient repays the 60% of the loan provided through the national banks on time. The loan is granted for purchasing modern production equipment both to established rural entrepreneurs and to those who only start a business, based on well-though-out business plans. Since June 2008, when the National Youth Economic Empowerment Program was launched, until the end of September, there were financed 652 projects to the value of 172 million lei, 72 million of which represented grants. The program will be implemented until 2013. The financing offered by foreign donors, like the European Commission this year, enables to capitalize the resources of the program and to increase the number of projects financed within it.