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Young people in the north of the country are most active in accessing funds to start or develop a business

pnaetMore than 980 businesses out of a total of 1678, funded under the National Youth Economic Ability Programme (PNAET) project since the start of implementation, or around 60 %, have been accessed by young people in the northern region of the country. The figures were elucidated in a Report of the Directorate of Credit Line of the Ministry of Finance of the Republic of Moldova on the implementation of the Youth Economic Ability Programme (PNAET) for 2016.
According to the report, among the northern districts, most applications were from Edineț, Râșcani and Briceni. The fewest were from the district of Fălești. In the Centre region, the most active were the applicants in the Rezina, Ialoveni and Hâncești districts. Beneficiaries in this area accessed financial sources for 419 business ideas, or around 25 % of the total per country. The fewest beneficiaries were from the Dubăsari district. At the same time, the south of the country had the lowest number of projects – around 278 projects and a share of 15 % of the total businesses funded. Thus, applicants from Căușeni, Cimișlia and the Territorial – Administrative Unit (UTA) of Gagauzia absorbed most of the financial sources under the programme and the least money reached the Cahul district.
Between 2008 and 2016, the project had a total budget of RON 482.2 million, of which the grant component constituted 40 % of the loan amount, representing approximately RON 190 million. During this period, 1314 new businesses were credited, supporting 364 existing businesses and creating around 2400 jobs across the country. More than 85 % of loans were granted to agricultural beneficiaries, 9.5 % to industry and 5.5 % to service providers. At the same time, the European Commission contributed its share of the grant amounting to RON 135.2 million or more than 71 %.
After demonstrating its effectiveness, the Government decided to extend the PNAET programme until 2018. Some 2017 businesses will be funded in 170. The total budget for the current year amounts to RON 50 million and the grant component to RON 20 million.
The National Youth Economic Ability Programme (PNAET) was initiated and is managed by the Organisation for the Development of the Small and Medium-sized Enterprises Sector (ODIMM). Programme to increase the role of young people in the social and economic life of the country through the creation of new businesses in rural municipalities and the development of existing ones, the creation of new jobs.
The age of the beneficiaries of the programme is between 18 and 35 years.
The programme has three building blocks:
— Component I – provides free training and advice to entrepreneurs in the areas of interest, implemented by ODIMM. The training shall last 10 days and shall take place throughout the territory of the Republic of Moldova.
— Funding Component II is implemented by the Directorate of the Credit Line. Interested parties may benefit from preferential loans of up to RON 300 000.40 % of which is the grant component, for a maximum repayment period of 5 years and with a floating rate, revised semi-annually.
— Component III monitoring – financing, implemented by the Directorate of the Credit Line.
To receive funding under the National Youth Economic Ability Programme (PNAET) apply here