ORDER OF THE GOVERNMENT OF THE REPUBLIC OF MOLDOVA

of June 3, 2008 No. 664

About the National program of economic support of youth

List of amending documents

Based on the Law on the small and medium companies No. 179 of July 21, 2016 (The official monitor of the Republic of Moldova, 2016, Art. No. 306-313, 651) and for development of entrepreneurial capabilities of youth DECIDES: the Government

1. Approve:

The national program of economic support of youth for 2008-2017 according to appendix No. 1;

staff of Coordinating committee of the National program of economic support of youth for 2008-2017 according to appendix No. 2.

2. Implementation of the Program to assign on:

The organization for development of the sector of the small and medium companies under the Ministry of Economics – the Section I;

Management of the Credit line under the Ministry of Finance – Sections II and III.

3. Provide program implementation at the expense of the recredited current assets of the Project of rural services and investments (RISP1) financed by the World Bank, and available means of the Project of rural financing and development of small enterprises (IFAD 1) financed by International Fund for Agricultural Development, and also at the expense of other raised funds of partners in development.

4. To provide to the Ministry of Economics and the Ministry of Public Education and youth necessary support of implementation of the Program.

5. In case of release of members of the specified Committee from posts of their obligation as a part of Committee persons who are again appointed to these positions without edition of the new order of the Government will carry out.

6. To impose control over the implementation of this Resolution on the Ministry of Economics and the Ministry of Finance

Prime Minister

Zinaida Grechany

Countersign: first deputy. Prime Minister, Minister of Economy and Trade

Igor Dodon

deputy. Prime Minister

Victor Stepanyuk

Minister of Finance

Mariana Durleshtyanu

minister of education and youth

Larisa Shavga

Appendix №1

to the Order of the Government the Republic of Moldova of June 3, 2008 No. 664

National program of economic support of youth

1. Program purpose

The purpose of the National program of economic support of youth (further – the Program) – promotion and assistance to involvement of youth of the Republic of Moldova in business activity.

2. Program tasks:

Development in youth of the entrepreneurial capabilities based on knowledge and optimum use of resources (financial, human, material, temporary, etc.).

Simplification of access for young entrepreneurs to the financial resources necessary for opening and development of own business.

Stimulation of youth to creation and development of the new companies.

3. Program components

Section I – Training and consultations in business activity.

Section II – Financing of rural investment projects by means of provision of reimbursable commercial credits with part of grant, and also financing of agreements of leasing.

Section III – Post-financial monitoring.

4. Program effective period:

2008 – 2017.

5. Target group of beneficiaries

The program is intended for young people aged from 18 up to 35 years which wish:

develop the entrepreneurial capabilities;

open own business in rural regions;

develop the existing own business in rural regions on condition of creation of new workplaces.

6. General terms of participation

For participation in the Section I participants shall correspond to the following criteria: be citizens of the Republic of Moldova;

be the physical persons wishing to develop own business in rural regions including in rural settlements of municipiums.

For participation in the Section II participants shall correspond to the following criteria:

be engaged in business activity of any form of business, having 100 percent private equity;

founders and/or unitholders of physical persons and legal entities – applicants shall be citizens of the Republic of Moldova aged from 18 up to 35 years;

correspond to criteria, the established Law No. 179 of July 21, 2016 on the small and medium companies.

Participation in the project as the beneficiary of the accompanying grant is possible only once.

7. Coordinating and control of the Program

Activities of the Program are coordinated and controlled by Coordinating committee which staff affirms the order of the Government.

The coordinating committee is convoked on the regular meetings at least once a quarter.

In the activities the Coordinating committee approves resolutions which are obligatory for all subjects of the Section I of the Program.

The coordinating committee approves application forms, registration forms and forms for the Section I of the Program, and also other documents necessary for program implementation, occasionally.

Results of coordinating and control of the Program are considered at meetings of Coordinating committee.

Description of components of the Program

Section I. Training and consultations in business activity

Training and consultations in business activity provide:

a) Holding information and propaganda campaign

The purpose of campaign for informing and promotion of the Program is informing the public, including target group, about start and program implementation, about conditions of participation and about the organizations responsible for its implementation.

For effective realization of this campaign information prospectuses will be published and extend by means of higher educational institutions, the youth organizations, the central and local public organizations, to be developed the press communique and announcements for publication in mass media.

b) Selection of partners

For program implementation the Organization for development of the sector of the small and medium companies under the Ministry of Economics (further – ORMSP) will select the organizations, partners of the Program who will promote implementation of the Program in rural regions of the Republic of Moldova. The choice of partners will take place based on the criteria announced by means of the tender and approved by the resolution of Coordinating committee.

c) Submission of applications for participation

For participation in training courses everyone fills registration form to which the copy of the identity certificate of the applicant is without fail attached.

The registration form filled properly accompanied with supporting documents moves (personally or by mail) in office of ORMSP. Persons which provided incomplete document package are not allowed to participation in the Program.

The period of registration and giving of the registration form accompanied with supporting documents appears on the websites of the Ministry of Economics and ORMSP, and also in the press.

d) Selection of participants

The filled registration form with the enclosed supporting documents is registered in the Register of the Program with indication of, dates, hour of submission of documents and registration number.

Registration forms after giving and registration are considered by ORMSP taking into account accomplishment of all selection criteria.

The decision on the admission or on refusal in participation in the Section I of the Program is accepted by Coordinating committee.

The list of the selected participants allowed for participation in the Program is published on ORMSP website within 5 days after adoption of the decision by Coordinating committee.

e) Carrying out and monitoring of training courses

Courses on entrepreneurial preparation are conducted on modules within 10 working days.

Developed training and consulting materials are issued to beneficiaries of the project free of charge, on training completion.

f) Provision of consultations on business activity

Throughout the period of action of the ORMSP Program provides free consultations to beneficiaries of the Program.

The interim statements constituted by ORMSP as a result of monitoring and assessment of rates and the provided consultations are represented to Coordinating committee.

Section II. Financing of rural investment projects by means of provision of reimbursable commercial credits with part of grant, and also financing of agreements of leasing

g) The Section II of the Program is intended for financing of transactions on purchase of wide range of production equipment and the equipment for provision of services, and also agreements of leasing for ensuring development of business activity in the rural zone.

h) It is preferred:

to beneficiaries which projects will promote export growth and/or replacement of import;

to beneficiaries which projects will develop productive activity in the agrarian sector.

i) The projects of beneficiaries concerning cultivation and realization of tobacco, production of pesticides, land acquisition, the real estate, securities and refinancing of debts will not be approved.

Projects of beneficiaries which implementation does harm to the environment will not be approved.

j) Selection criteria

For participation in the Section II the applicant shall correspond to general criterions of participation in this Program, including:

not have debt on the current payments to financial and bank and/or non-bank organizations or to the national public budget, and in the presence of debts they shall be extinguished voluntarily within 30 days from the moment of filing of application on participation in the Program;

not be in insolvency condition, in insolvency proceeding, reorganization or in any other judicial process;

correspond to evaluation criteria and financial analysis of the participating commercial banks which assume credit risks.

k) Applications on receipt of the credits for participation in the Section II of this Program shall be submitted to the participating commercial banks with which the Management of the Credit line under the Ministry of Finance has signed agreements on recrediting for these purposes.

The list of the documents necessary for participation in the Section II and for the analysis of viability of the financed business, is constituted by the participating commercial banks.

l) Credit risks and risks of irrevocability of the credits issued to beneficiaries will lay down entirely on the participating commercial banks which will make decisions on crediting independently on each project / subproject of beneficiaries.

The participating commercial banks will cover to the Ministry of Finance all possible losses connected with recrediting of funds.

m) The loans can be granted in maximum amount to 300 000 (three hundred thousand) lei from the maximum repayment period to 5 years.

n) In statements on obtaining and loan repayment it is operated with national currency - Moldovan leu.

o) The statement amount on receipt of the credit includes the equipment cost, transport costs, installation, training, insurance for transportation and, if necessary, on inspection.

Beneficiaries of the credit shall insure at own expense the equipment acquired within the Program.

p) The acquired equipment can be given to the participating commercial bank as pledge for providing the required credit and is withdrawn if payments are not made in terms according to the repayment schedule.

q) From the main credit amount of 60 percent, and also commercial loan interest rate are settled by the beneficiary to the participating commercial bank according to the credit agreement and the repayment schedule taking into account cash flow of the beneficiary, received as a result of its activities.

In case of timely repayment of the main credit amount of 40 percent become not due for settlement grant, without charge of interest rate.

r) In case of payment delay on terms from the beneficiary more than for 30 working days part of grant becomes reimbursable loan, with charge of interest rate.

Section III. Post-financial monitoring

s) Within the Section III Management of the Credit Line under the Ministry of Finance will perform monitoring of the credit and to submit to the Ministry of Finance reports on use and repayment of the credits by the participating commercial banks.

Appendix № 2

to the Order of the Government of the Republic of Moldova of June 3, 2008 No. 664

Staff of Coordinating committee of the National program of economic support of youth

Kalmyk Octavian is the deputy prime minister, the Minister of Economic Affairs, the chairman of Coordinating committee

To Zubk Victor is the minister of youth and sport, the vice-chairman of Coordinating committee

Kereush Maria - the Deputy Minister of Finance

To Tsurkan Svetlana is the head of department of policy of development of the small and medium companies and trade, the Ministry of Economics, the secretary of Coordinating committee

Pane Viorel is the head of department of finance of national economy and on capital costs, the Ministry of Finance

Antonits's lamp is the secretary general of National council of non-governmental organizations in Moldova

Karp Terentiye is the chairman of National council of youth of Moldova

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