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IBLF News


 	 
  
12.03.2013

First-years results of the YBR (Youth Business Russia) program implementation in the Rostov region.

First-years results of the YBR (Youth Business Russia) program implementation in the Rostov region.

In March 2012, Rostov-on-Don joined the YBR program. Regional authorities, members of the     entrepreneurship support infrastructure, business associations and leading institutions of the region (in total 17 partners) signed an agreement on the regional intersectoral cooperation partnership in the area of the youth entrepreneurship development. The financial partner of the program is Commercial Bank Center-invest. On March 12, 2013 another two partners joined the cooperation agreement: the administration of Rostov-on-Don and the Economy Department of Rostov-on-Don.

On that day CB Center-invest held a meeting of the supervisor and expert councils of the Youth Business Russia: Rostov region program. One of the main objectives of that meeting was summarizing results of the first year of the YBR program implementation in the Rostov region, as well as consideration of business projects developed by young entrepreneurs that were submitted for consideration of the expert council to obtain concessional loans within the framework of the YBR program. The meeting was attended by members of the supervisory and expert council, partners and participants of the Youth Business Russia: Rostov Region program.

Supervisory Council
The overall grade of the program performance was excllent. Boris Tkachenko, the head of the Youth Business Russia program, noted that in terms of the ratios and growth pace results of the program implementation in the Rostov region are tremendous.
Much has been done up to date. Over 50 start-ups have become participants of the program. 19 business plans have received approval. 14 participants have obtained concessional loans for development of their business for the amount over 4.5 million rubles from the financial partner of the YBR program CB Center-invest. There has been an action plan for 2013 approved within the framework of the event.

Expert Council
There were presentations of 6 business plans developed by young entrepreneurs submitted for discussion of the expert council of the program. All those projects were approved by the council members. After the credit check, the first-time entrepreneurs will be granted concessional loans. Within the framework of the Youth Business Russia program loans are granted to young entrepreneurs aged from 18 to 35 for a term of 3 years without any pledge or security. The maximum amount is 300,000 rubles with the interest rate of 12% p.a. Loans are issued on the basis of the business plan that is subject to preliminary consideration and approval by members of the expert council.

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