MICROLOANS PROGRAM LAUNCHED

Business | September 29, 2001, Saturday // 00:00

The Government launched its start-up microloans program, the Press Centre of the Ministry of Labor and Social Policy announced. Entrepreneurs will be supported through guarantee schemes for loans ranging between BGN 5,000 and BGN 15,000. Such loans will be extended to firms, associations, cooperatives, farmers and unemployed persons starting a business. The idea is to create jobs, promote family business, and maintain current employment. By October 31, the Labor Ministry is expected to present to the Council of Ministers a project for promotion of entrepreneurship through guarantee schemes for start-up microloans. The necessary funds, up to 20 million leva, are to be provided by the Labour Ministry budget.

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