Ninh Binh Youth are supported with loans for start-up and business development up to 2 billion VND

On July 12, 2023, the People's Council of Ninh Binh province issued Resolution No. 103/2023/NQ-HDND amending Resolution No. 43/2018/NQ-HDND dated December 12, 2018 regulating policies to support loans for start-ups and production and business development for young people in Ninh Binh province.

According to the Resolution, the maximum amount of capital that young people can borrow to start a business and develop production and business is 2 billion VND/project. Each organization or individual can borrow capital for 1 project; the loan term does not exceed 120 months (10 years).

Previously, since 2018, the Provincial People's Council issued Resolution No. 43/2018/NQ-HDND dated December 12, 2018 regulating policies to support loans for startups and production and business development for young people in Ninh Binh province.

Accordingly, the subjects of application are organizations owned by youth (cooperatives, cooperative groups, enterprises) that need to borrow capital to start businesses and develop production and business; young individuals who need to borrow capital to start businesses and develop production and business; priority is given to young people from poor and disadvantaged households, young people with disabilities, young people who have completed their military service, and young people living in areas where agricultural land has been converted.

To receive support, youth organizations and individuals must meet the conditions stipulated in Resolution 43. Specifically:

For organizations owned by youth: Established and operating legally; having a loan project suitable for the registered production and business sector and having a feasible loan repayment plan; the loan project and repayment plan are confirmed by the People's Committee of the commune where the project is implemented.

For young individuals: Have a loan project suitable for the production and business sector and have a feasible loan repayment plan; the loan project and repayment plan must be confirmed by the People's Committee of the commune where the project is implemented.

To see the detailed content of the Resolution, click here: ninh-binh-thanh-nien-duoc-ho-tro-vay-von-khoi-nghiep-va-phat-e6779.pdf

Bui Dieu

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