The maximum level of guarantees that can be issued this year within the programme "Invest in Yourself" will be of 1 billion lei, according to a decision of the Government approved on Thursday.
According to this project's substantiation note, the maximum level of guarantees to be issued in 2019 will be of 1 billion lei, as decided "after the consultations with the National Commission of Strategy and Prognosis and considering the expected success of the programme in the next years, and also the interested shown in it by the potential beneficiaries and also by the important players on the banking market."
"In establishing the cap there were taken into consideration the development of the programme and relevant aspects related to its implementation, as well as the high degree of utilization of the money in only 3 months since the start of the programme in 2018," reads the document.
The beneficiaries of the programme "Invest in Yourself" are individuals with Romanian citizenship, young people between 16 and 26 years old, who are registered with the Romanian education system or are taking courses authorized by the Ministry of National Education, but also persons aged between 26 and 55, who are registered with the Romanian education system or are taking professional reconversion courses.
The value of the credit for young people aged between 16 and 26 can be of up to 40,000 lei with the possibility of a supplement of another 20,000 lei, if the beneficiary is hired to about to be hired during the time of the programme. For the persons aged between 26 and 55 years old, the value of the credit can be of up to 35,000 lei, with the possibility of a supplement of another 20,000 lei, if the beneficiary is hired or about to be hired in the period of the programme.
For the year 2018, the total cap for the guarantees that could be issued was 600 million lei.
The guarantees are granted through the National Credit Guarantee Fund for Small and Medium-Sized Enterprises, in its capacity as mandatory of the Ministry of Public Finance.
In the first three months since the launch of the programme, in October 2018, there were submitted 2,400 applications for financing, with more than 1,350 being approved, according to the data provided by the Government.
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