Romania passes state-backed lending for students’ personal development

The Romanian Government has adopted a lending program for students to invest in education, health, sports and culture, News.ro reported. It approved an Emergency Ordinance to enforce the new program. Called “invest in yourself”, it allows young people 16 to 26 currently studying to take state-guaranteed loans without any interest, of up to RON 40,000 (the equivalent of some EUR 8,560 at today’s rate). An extra RON 20,000 (EUR 4,290) can be added if the borrower also works. Those aged 26 to 55, who are enrolled in education or training programs, can also access such loans, of up to RON 35,000 (EUR 7,510), with an extra RON 20,000 if they are employed or get hired during the credit period. Romanian Govt. approves zero-interest loans for personal development editor@romania-insider.com