State to guarantee loans for young Romanians without a job

The young Romanians without a job could be able to access loans of up to RON 40,000 (some EUR 8,600), which would be guaranteed by the state, according to a draft law for the establishment of the state aid scheme "Interest-free loans for young people,” published in the legislative program of the Government for this year. “The program is aimed at facilitating access to finance for young people under 26 who do not have a job or who are studying,” reads the project, according to local News.ro. The state will guarantee 80% of the loan’s value through the Guarantee Fund. The young people won’t need to have income to access such a loan, and the interest will be subsidized by the state. The loan should be taken for a period of five years, being intended to “cover the needs of a young person: education, health, culture, sports.” Romania will launch state aid scheme for investments over EUR 10 mln Irina Marica, irina.marica@romania-insider.com