​GOVERNMENT EXPANDS ACCESS TO FUNDING THROUGH THE "373" PROGRAM

The government expands access to financing for entrepreneurs through the "373" program. According to INFOTAG, the decree was adopted at the govermental meeting on Wednesday.

"In addition to interest rate subsidies, new components are being added, including loan guarantees, which is important for small and medium-sized enterprises. Thanks to this, we will stimulate the growth of investments, create new jobs, increase the added value and, consequently, raise the salaries of employees," Prime Minister Dorin Recean said.

The program will now be extended to a wider range of businessmen. Small and medium-sized enterprises in the trade sector (except those selling alcoholic beverages and tobacco products), as well as those involved in the maintenance and repair of cars and motorcycles will be able to take part in it. At the same time, the maximum limit of guarantees has been increased from 40% to 80% of the loan volume, and bank procedures for granting loans have been simplified.

So far, more than 300 beneficiaries have taken 363 loans under the "373" program. The total investments amounted to 1.46 billion lei.