The Ministry of Economy chose CEC Bank to grant loans in the government programme aimed at developing entrepreneurial abilities among youths and facilitating the access to financing – START, through which grants up to RON 100,000 are extended, Mediafax informs. The bank will provide loans in RON, with a variable interest formed of the ROBOR (the interest rate for loans on the Romanian interbank market) at 6 months + 3 pp, updated on a half-year basis, the Department for the Implementation of Programmes for Small and Medium-Sized Enterprises announced. Beneficiaries will receive guarantees from the National Guarantee Fund for SMEs up to 80 pc of the credit and a grace period of maximum 12 months. Eligible recipients are microenterprises, SMEs with integrally private social capital that did not benefit from non-reimbursable financial allowances through the programme during previous years and do not have associates, shareholders or administrators which are, or have been in the past associates/shareholders/administrators of other companies that enjoyed non-reimbursable financial allowances through the programme in the past. The budget allotted during the budgetary year 2013 for non-reimbursable financial allowances (AFN) is RON 20 M and its implementation is estimated to be enough for providing ‘de minimis’ support grants to at least 200 beneficiaries.