Moldova Republic Implementation Tender

The launch of the Youth Credit Facility initiated by the Ministry of Finance has started and is fully based on the available funds of the current investment credit lines funded by state foreign loans for the real sector development provided by the World Bank and the International Fund for Agricultural Development . The recruitment of young entrepreneurs is done through the local interested IFPs who take all their credit risks and have signed with the Ministry of Finance Reconciliation Contracts.Implementation of FCT aims to reduce the constraints related to young peoples limited access to favorable financial resources and to provide additional support by reducing interest rates on loans. The FCT promotional rates are reduced by 2 percentage points relative to the annual reference interest rate announced by the semi-annual IFP in accordance with the General Conditions and the terms of the Recovery Contracts in force within the respective funding line.Main eligibility conditions for potential sub-borrowersthe age of the 18-35 year olds at the time of applying for the VET credit applicationthe maximum amount of a sub-loan - up to 1.5 million lei issued in Moldovan Leithe purpose of the expenditure financed for eligible activities - goods and services including working capital raw material in accordance with the general conditions of the active credit line in force from which the sub-project will be financedthe founders of the enterprise must be young citizens of the Republic of Moldova and have at least 75 ownership of the enterprise businessBeneficiaries may be natural and legal persons registered throughout the territory of the Republic of Moldova including ATU Gagauziasub-loans will not be issued in cashto keep promotional rates businesses businesses youth sub-loans will not be sold donated or alienated in the first two years of credit following the goal of successfully implementing the funded business the grace period for the principal amount of the sub-loan - no more than 12 months under the credit facility for young people the benchmark margin added to the final crediting rate is recommended not to exceed 3.0 and the added IFP commissions will be reasonablethe areas of activity - business in agriculture in rural areas of the country as well as in other areas of activity eligible throughout the countryother re-credit conditions may be determined between sub-borrowers and intermediary IFPs.Considering the wide network of subsidiaries of the Financial Partnerships the FCT implementation will cover the entire territory of the country.For credit decisions beneficiaries may contact one of the following Financial Institutions including their web pagesBC Moldova-Agroindbank SA- tel. 022 303277 303234 303222BC Mobiasbanc -Grup Societe Generale SA 022 - tel. 812548 812425BC Moldindconbank SA- tel. 022 576798 576839BC Fincombank SA-tel. 022 269816BC Energbank SA-tel. 022 858056BC Comertbank SA-tel. 022 839734 839737WM OM Moldcredit SRL. goal. 022 549236BC ProCredit Bank SA tel. 022 782498BC EuroCreditBank SA tel. 022 500255.Transparency of resource costs can be ensured by consulting the Ministry of Finance web site on recidivism ministry rates announced for recreditation of intermediary IFP httpmf.gov.mdendatoria-sectorul-publicproiecte-directoratului-de-creditelor .