The Ministry of Economy and Finance (MEF)
has extended the validity of the Business Support Fund for the Textile and Clothing Sector (FAE-Texco), with the aim of promoting the financing of micro- and small-sized enterprises (MSEs) in the sector.
"Article 16. The FAE-Texco is valid for 78 months, from the expiration date of the acceptance period established in Article 17 of Urgency Decree No. 002-2023. Said term includes the liquidation term of the aforementioned Fund,"
the resolution reads.
It should be noted that the term for granting guarantees for new FAE-Texco credits expires on June 30, 2023, and then it was set to be valid for six years, but now, with the amendment, it will be valid for 78 months.